City skyline in China

China Housing July 2022

China: House prices decline in annual terms in July

House prices in 70 large- and medium-sized cities were stable month-on-month in July, according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS), following June’s stable reading.

On an annual basis, house prices fell at a sharper rate of 0.9% in July (June: -0.5% yoy), the worst result since September 2015. Meanwhile, annual average house price growth fell to 1.8% in July (June: +2.3%). This signals a worsening trend in the sector.

Other housing market indicators continued to show distress in the real estate market, with the declines in property investment, residential housing starts and real estate developer funding deepening in January–July relative to January–June. Concerns over further stop-start Covid-19 restrictions, debt-laden developers and recent mortgage boycotts will keep the property market subdued in the near term, notwithstanding interest rate cuts by the Central Bank and the partial rollback of property market curbs.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest