Average prices of new homes in 70 Chinese cities increased by 10.7 percent year-on-year in April 2019, after a 10.6 percent gain in the previous month. It was the largest rise in average prices of new homes since April 2017. Among China's four biggest cities, Guangzhou reported the largest increase (13.3 percent vs 11.9 percent in March), followed by Beijing (3.5 percent vs 3.2 percent), Shanghai (1.5 percent vs 1.2 percent) and Shenzhen (0.7 percent vs 0.3 percent). On a monthly basis, new home prices went up 0.6 percent in April, the same pace as in March. To cool the property market, Chinese authorities have imposed tighter measures since March 2017 in at least two dozen cities. Housing Index in China averaged 4.35 percent from 2011 until 2019, reaching an all time high of 12.60 percent in November of 2016 and a record low of -6.10 percent in March of 2015.
Housing Index in China is expected to be 11.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in China to stand at 8.00 in 12 months time. In the long-term, the China Newly Built House Prices YoY Change is projected to trend around 6.00 percent in 2020, according to our econometric models.