Average new home prices in China's 70 major cities rose by 4.3 percent year-on-year in February 2021, accelerating from a 3.9 percent rise in the previous month. This was the steepest pace of growth in new home prices since October last year, as government cooling measures were largely offset by strong demand for property in some major cities. Among China's biggest cities, Guangzhou recorded the largest increase (6.9 percent vs 5.9 percent in January), followed by Chongqing (5.7 percent vs 4.9 percent), Shanghai (5.0 percent vs 4.4 percent), Shenzhen (3.8 percent vs 3.7 percent), Beijing (3.4 percent vs 2.9 percent), and Tianjin (2.3 percent vs 1.5 percent). On a monthly basis, new home prices went up by 0.4 percent in February, the most in five months. source: National Bureau of Statistics of China
Housing Index in China averaged 4.70 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 April of 2021.
Housing Index in China is expected to be 4.40 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 4.80 in 12 months time. In the long-term, the China Newly Built House Prices YoY Change is projected to trend around 5.30 percent in 2022 and 5.50 percent in 2023, according to our econometric models.