China: House prices rise at fastest pace in nearly two years in June
House prices in 70 large- and medium-sized cities rose 1.0% in June in month-on-month terms according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). The print was up from May’s 0.7% increase and represented the highest reading since November 2016. According to the NBS, the sale prices of newly constructed residential buildings increased in 63 cities (61 in May).
House prices rose 5.0% annually in June, up from a 4.7% increase in May. Annual average growth in house prices fell to 5.8% in June from 6.2% in May, marking the lowest rate since October 2016.