China: Growth in house prices slows in July
August 18, 2017
House prices in 70 large- and medium-sized cities rose 0.4% in July from 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 undershot the 0.7% rise in June. According to the NBS, the sale price of newly-constructed residential buildings increased in 56 cities (60 in June), declined in 9 cities and was unchanged in 5.
House prices rose 9.7% annually in July, which was below June’s 10.2% increase and marked an 11-month low. Annual average growth in house prices rose from 11.0% in June to a new record high of 11.2% in July.