China: Growth in house prices stabilizes in May
House prices in 70 large- and medium-sized cities increased 0.5% in May in month-on-month terms according to a weighted average index calculated by Refinitiv 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 57 of the 70 cities (50 in March).
House prices increased 4.9% annually in May, below the 5.1% rise in April and the lowest result in two years. Annual average growth in house prices fell from 7.7% in April to 7.2% in May.