Average prices of new homes in 70 Chinese cities rose by 6.6 percent year-on-year in December 2019, the slowest pace since July 2018, after a 7.1 percent advance in the previous month. Among China's four biggest cities, Chongqing reported the largest increase (8.1 percent vs 8.4 percent in November), followed by Beijing (4.8 percent vs 5.4 percent), Guangzhou (4.7 percent vs 8.1 percent), Shenzhen (3.6 percent vs 3.3 percent), Shanghai (2.3 percent vs 2.8 percent) and Tianjin (1.4 percent vs 1.6 percent). A series of government curbs and a slowdown in the economy have weighed on the housing market, but renewed fears that prices may rise due to looser credit conditions have prompted policymakers to clamp down on speculative buying. On a monthly basis, new home prices went up 0.3 percent in December, the same as in November. Housing Index in China averaged 4.65 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. source: National Bureau of Statistics of China

Housing Index in China is expected to be 8.00 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 6.50 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.


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China Newly Built House Prices YoY Change

Actual Previous Highest Lowest Dates Unit Frequency
6.60 7.10 12.60 -6.10 2011 - 2019 percent Monthly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-10-21 01:30 AM Sep 8.4% 8.8% 8.7%
2019-11-15 01:30 AM Oct 7.8% 8.4% 8.5%
2019-12-16 01:30 AM Nov 7.1% 7.8% 7.5%
2020-01-16 01:30 AM Dec 6.6% 7.1% 7.2%


News Stream
2019-12-16
China New Home Price Growth at 15-Month Low
Average prices of new homes in 70 Chinese cities increased by 7.1 percent year-on-year in November 2019, the least since August last year, after a 7.8 percent advance in the previous month. Among China's four biggest cities, Guangzhou reported the largest increase (8.1 percent vs 8.7 percent in October), followed by Beijing (5.4 percent vs 4.3 percent), Shanghai (2.8 percent vs 3 percent) and Shenzhen (3.3 percent vs 2.9 percent). A series of government curbs and a slowdown in the economy have weighed on the housing market, but renewed fears that prices may rise due to looser credit conditions have prompted policymakers to clamp down on speculative buying. On a monthly basis, new home prices went up 0.3 percent in November, the weakest in nearly three years, following a 0.5 percent gain in October.

2019-11-15
China New Home Price Growth at 14-Month Low
Average prices of new homes in 70 Chinese cities increased by 7.8 percent year-on-year in October 2019, the least since August last year, following a 8.4 percent advance in the previous month. Among China's four biggest cities, Guangzhou reported the largest increase (8.7 percent vs 9 percent in September), followed by Beijing (4.3 percent vs 4.7 percent), Shanghai (3 percent vs 2.7 percent) and Shenzhen (2.9 percent vs 2 percent). A series of government curbs and a slowdown in the economy have weighed on the housing market, but renewed fears that prices may rise due to looser credit conditions have prompted policymakers to clamp down on speculative buying. On a monthly basis, new home prices went up 0.5 percent in October, the same as in September and remaining the weakest monthly rise since February.

2019-10-21
China New Home Price Growth Weakest in A Year
Average prices of new homes in 70 Chinese cities increased by 8.4 percent year-on-year in September 2019, the least since September last year, following a 8.8 percent advance in the previous month. Among China's four biggest cities, Guangzhou reported the largest increase (9 percent vs 9.4 percent in August), followed by Beijing (4.7 percent vs 4.8 percent), Shanghai (2.7 percent vs 2.2 percent) and Shenzhen (2 percent vs 0.6 percent). A series of government curbs and a slowdown in the economy have weighed on the housing market, but renewed fears that prices may rise due to looser credit conditions have prompted policymakers to clamp down on speculative buying. On a monthly basis, new home prices went up 0.5 percent in September, the same as in August and remaining the weakest monthly rise since February.

2019-09-17
China New Home Price Growth at 10-Month Low
Average prices of new homes in 70 Chinese cities increased by 8.8 percent year-on-year in August 2019, the least since October last year, following a 9.7 percent advance in the previous month. Among China's four biggest cities, Guangzhou reported the largest increase (9.4 percent vs 10.2 percent in July), followed by Beijing (4.8 percent vs 4.3 percent), Shanghai (2.2 percent vs 1.9 percent) and Shenzhen (0.6 percent vs 0.9 percent). A series of government curbs and a slowdown in the economy have weighed on the housing market, but renewed fears that prices may rise due to looser credit conditions have prompted policymakers to clamp down on speculative buying. On a monthly basis, new home prices went up 0.5 percent in August, the least since February.

2019-08-15
China Home Price Growth at 7-Month Low
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) and Shenzhen (0.9 percent vs 1.3 percent). A series of government curbs and a slowdown in the economy have weighed on the housing market, but renewed fears that prices may rise due to looser credit conditions have prompted policymakers to clamp down on speculative buying. On a monthly basis, new home prices went up 0.6 percent in July, the same pace as in June.

2019-07-15
China Home Price Growth Cools in June
Average prices of new homes in 70 Chinese cities increased by 10.3 percent year-on-year in June 2019, the least since January, following a 10.7 percent advance in the previous month. Among China's four biggest cities, Guangzhou reported the largest increase (10.5 percent vs 12.2 percent in May), followed by Beijing (3.9 percent, the same as in May), Shanghai (2 percent vs 1.7 percent) and Shenzhen (1.3 percent vs 1.2 percent). A series of government curbs and a slowdown in the economy have weighed on the housing market, but renewed fears that prices may rise due to looser credit conditions have prompted policymakers to clamp down on speculative buying. On a monthly basis, new home prices went up 0.6 percent in June, after a 0.7 percent growth in May.


China Newly Built House Prices YoY Change
In China, Housing Index is measured by year over year change in house prices in 70 medium and large cities.

China Housing Last Previous Highest Lowest Unit
Housing Index 6.60 7.10 12.60 -6.10 percent [+]
New Home Sales 139440.00 121706.00 139440.00 78.19 CNY Hundreds of millions [+]