China: Tightening measures in top cities cool house prices in November
December 19, 2016
House prices in 70 large- and medium-sized cities rose 0.6% in November from 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 was below the 1.1% increase observed in the previous month and marked a nine-month low.
Compared to the same month last year, house prices jumped 12.6% in November. The print came in above the 12.3% increase recorded in October and marked the fastest expansion on record. Annual average variation in house prices rose from 6.2% in October to a 28-month high of 7.2% in November.
The implementation of home purchase restrictions and higher mortgage down payments by the end of September and early October in some top-tier cities is causing house prices to decelerate.