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.