China: Growth in house prices stabilizes in May
June 19, 2017
House prices in 70 large- and medium-sized cities rose 0.7% in May 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 matched the result in April. According to the NBS, the sale price of newly-constructed residential buildings increased in 56 cities (58 in April), declined in 9 cities and was unchanged in 5.
House prices rose 10.4% annually in May, which was below April’s 10.7% increase and marked a nine-month low. Annual average growth in house prices rose from 10.5% in April to a new record high of 10.8% in May.