China: Growth in house prices inches up in October
House prices in 70 large- and medium-sized cities rose 1.0% in October in month-on-month terms according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). The print was up from September’s 0.9% increase, which had represented the lowest reading in four months. According to the NBS, the sale prices of newly constructed residential buildings increased in 65 cities (64 in September).
House prices rose 8.6% annually in October, up from a 7.9% increase in September and the strongest print in over one year. Annual average growth in house prices inched up from 5.4% in August to 5.5% in September.