China Housing February 2016

China

China: House prices in February confirm improvement in the property sector

March 18, 2016

House prices in 70 large- and medium-sized cities rose 0.6% in February over 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 overshot the 0.4% increase tallied in the previous month and marked an over-two-year high. According to the NBS, the sales prices of newly-constructed residential buildings declined in 15 cities, increased in 47 cities and remained flat in 8 cities. February data are consistent with the improvement seen in the real estate market in big cities at the outset of the year.

Compared to the same month of the previous year, house prices jumped 3.6% in February. The print came in well above the 2.5% increase tallied in January and thereby marked the highest level in one-and-a-half years. As a result of the continued upward trend in prices that has been observed since May 2015, annual average variation in house prices in February rose from minus 2.5% in January to minus 1.8%.


Author: Ricard Torné, Lead Economist

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China House Prices February 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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