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China May new home prices growth fastest in five months

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China had sought to spur growth. China’s home prices growth fastest in five months, raises policy challenge Average new home prices in China’s 70 major cities rose 0.7% in May from the previous month, picking up from a 0.6% rise in April and the quickest pace since December, according to Reuters calculations based on NBS data on Tuesday.

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Average prices of new homes in 70 Chinese cities increased by 9.7 percent year-on-year in July 2019, the least since December last year, following a 10.3 percent advance in the previous month. Among China’s four biggest cities, Guangzhou reported the largest increase (10.2 percent vs 10.5 percent in June), followed by Beijing (4.3 percent vs 3.9 percent), Shanghai (1.9 percent vs 2 percent.

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Average new home prices in China’s 70 major cities rose 0.7 per cent in May from the previous month, picking up from a 0.6 per cent rise in April and the quickest pace since December, according to Reuters calculations based on National Bureau of Statistics (NBS) data on Tuesday.

Average new home prices in May grew at the fastest rate since December 2018, rising higher for the 49th consecutive month. Home prices rose 0.7% in May YoY, the same rate as in April. Eased credit conditions in recent times have driven the demand for housing higher, keeping new home prices supported.

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China’s new home prices accelerated to their fastest pace in almost two years in June, with buyer demand in bigger cities resilient in the face of fresh curbs against speculation, a sign more restrictions may be needed. Average new home prices in China’s 70 major cities rose 1 percent in June

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