China Housing December 2020

China

China: Housing market continues to decelerate in December

January 15, 2021

House prices in 70 large- and medium-sized cities increased 0.1% in December in month-on-month terms according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS). The print matched November’s reading, and was the joint-weakest result since March. Tier-1 cities such as Beijing, Shanghai, and Guangzhou led the overall increase in house prices.

House prices increased 3.8% annually in December, below November’s 4.0% rise. Annual average growth in house prices fell from 5.1% in November to 4.9% in December.

Looking ahead, the housing market is likely to lose some momentum this year due to the impact of recent government measures to limit financial risks—including limits on property loans—notwithstanding a stronger domestic economy.


Author:, Economist

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China House Prices December 20 20 0

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 Refinitiv.


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