China: Growth in house prices slows to seven-month low in August
September 18, 2017
House prices in 70 large- and medium-sized cities rose 0.2% in August 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 0.4% rise in July and was the lowest rate since February. According to the NBS, the sale price of newly-constructed residential buildings increased in 46 cities (56 in July), declined in 18 cities and was unchanged in 6.
House prices rose 8.3% annually in August, which was below July’s 9.7% increase and marked a 13-month low. Annual average growth in house prices inched down from 11.2% in July to 11.1% in August.