China: Growth in house prices remains stable in September
September 18, 2015
House prices in 70 large- and medium-sized cities rose 0.3% in September over the previous month, according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). The print matched the result tallied in the previous two months and represented the fifth consecutive monthly expansion. According to the NBS, the sales prices of newly-constructed residential buildings declined in 21 cities, increased in 39 cities and remained flat in 10 cities.
On an annual basis, house prices fell 0.9% in September, which was above the 2.3% drop tallied in August and thereby marked a 13-month high. Nevertheless, as a result of the continued downward trend in prices that has been observed since the start of 2014, annual average variation in house prices in September was stable at the previous month’s minus 4.3%.