China: House prices expand for third consecutive month in July
August 18, 2015
House prices in 70 large- and medium-sized cities rose 0.3% in July over the previous month, according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). July’s reading was below the 0.4% increase recorded in the previous month and marked the third expansion in a row. According to the NBS, the sales prices of newly-constructed residential buildings declined in 29 cities, increased in 31 cities and that of 10 cities remained flat.
On an annual basis, house prices declined 3.7% in July, which was above the 4.9% drop tallied in June and thereby marked an eight-month high. Nevertheless, as a result of the continued downward trend in prices observed since the start of 2014, annual average variation in house prices fell from minus 3.5% in June to minus 4.1% in July.