China: Growth in house prices stable in July
August 15, 2019
House prices in 70 large- and medium-sized cities rose 0.6% in July in month-on-month terms according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). The print matched the increase recorded in June. According to the NBS, the sale prices of newly constructed residential buildings increased in 60 cities (63 in June).
House prices rose 9.7% annually in July, below the 10.3% rise in June and the lowest result in seven months. Annual average growth in house prices, however, increased from 9.3% in June to 9.6% in July, the strongest result since October 2017.
Author: Jan Lammersen, Economist