China Housing October 2016

China

China: House prices decelerate in October on cooling property measures

November 18, 2016

House prices in 70 large- and medium-sized cities rose 1.1% in October 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 was below the 2.1% increase observed in the previous month, which was the strongest growth rate since records began in January 2011.

Compared to the same month last year, house prices jumped 12.3% in October. The print came in above the 11.2% increase recorded in September and marked the fastest expansion on record. Annual average variation in house prices rose from 5.2% in September to a 26-month high of 6.2% in October.

House prices slowed sharply in top-tier cities following the implementation of home purchase restrictions and higher mortgage down payments by the end of September and early October.


Author: Ricard Torné, Lead Economist

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China House Prices October 2016

Note: Month-on-month changes of the price index of newly constructed residential buildings in 70 large and medium cities and year-on-year variation in %. The index is calculated as a weighted average based on the population of the 70 cities.
Source: National Bureau of Statistics of China (NBS) and Thomson Reuters.


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