Average new home prices in China's 70 major cities increased by 4.8 percent year-on-year in August 2020, the same pace as in the previous month and the slowest rise in home prices since May 2018, as the COVID-19 outbreak scared potential buyers to go outside and make any transaction. Among China's biggest cities, Shenzhen recorded the largest increase (6.2 percent vs 5.9 percent in July), followed by Chongqing (5.3 percent vs 4.6 percent), Shanghai (4.5 percent vs 4.2 percent), Beijing (3.4 percent vs 3.3 percent), Guangzhou (1.6 percent vs 1 percent), and Tianjin (0.9 percent vs 0.7 percent). On a monthly basis, new home prices advanced 0.6 percent in August, following a 0.5 percent gain in July.
Housing Index in China averaged 4.71 percent from 2011 until 2020, 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. This page provides the latest reported value for - China Newly Built House Prices YoY Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. China Newly Built House Prices YoY Change - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: National Bureau of Statistics of China
Housing Index in China is expected to be 4.50 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 6.20 in 12 months time. In the long-term, the China Newly Built House Prices YoY Change is projected to trend around 6.60 percent in 2021 and 7.50 percent in 2022, according to our econometric models.