Average new home prices in China's 70 major cities dropped by 0.2 percent year-on-year in April 2023, much slower than a 0.8 percent fall in the previous month. This was the 12th straight month of decrease in new home prices but the softest pace since May 2022, amid efforts from Beijing since last year to speed up policy measures to spur a recovery of the ailing property sector. Among the Chinese biggest cities, prices fell at softer pace in Tianjin (-0.9% vs -1.6% in March), Shenzhen (-1.1% vs -1.5%), and Guangzhou (-0.1% vs -0.2%). Meantime, prices continued to grow in Beijing (4.5% vs 4.6%), Chongqing (1.2% vs flat reading), and Shanghai (4.6% vs 4.1%). On a monthly basis, new home prices rose by 0.4 percent, the fourth straight month of growth, after a 0.5 percent gain in March which was the strongest rise in 21 months, as the economy fully re-emerged from pandemic disruptions. source: National Bureau of Statistics of China

Housing Index in China averaged 4.09 Percent from 2011 until 2023, 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 June of 2023.

Housing Index in China is expected to be 0.50 Percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Newly Built House Prices YoY Change is projected to trend around 2.70 Percent in 2024 and 3.00 Percent in 2025, according to our econometric models.

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China Newly Built House Prices YoY Change



Calendar GMT Actual Previous Consensus TEForecast
2023-04-15 01:30 AM Mar -0.8% -1.2% -1.0%
2023-05-17 01:30 AM Apr -0.2% -0.8% -0.2%
2023-06-15 01:30 AM May -0.2% 0.5%


Related Last Previous Unit Reference
Housing Index -0.20 -0.80 Percent Apr 2023
House Price Index MoM 0.40 0.50 percent Apr 2023
New Home Sales 36020.00 27647.00 CNY HML Apr 2023

China Newly Built House Prices YoY Change
In China, Housing Index is measured by year-over-year change in the index of newly built residential buildings in 70 medium and large cities. The index is calculated in weighted average method and the weight of each city is based on the population.
Actual Previous Highest Lowest Dates Unit Frequency
-0.20 -0.80 12.60 -6.10 2011 - 2023 Percent Monthly
NSA

News Stream
China New Home Prices Drop the Least in 11 Months
Average new home prices in China's 70 major cities dropped by 0.2 percent year-on-year in April 2023, much slower than a 0.8 percent fall in the previous month. This was the 12th straight month of decrease in new home prices but the softest pace since May 2022, amid efforts from Beijing since last year to speed up policy measures to spur a recovery of the ailing property sector. Among the Chinese biggest cities, prices fell at softer pace in Tianjin (-0.9% vs -1.6% in March), Shenzhen (-1.1% vs -1.5%), and Guangzhou (-0.1% vs -0.2%). Meantime, prices continued to grow in Beijing (4.5% vs 4.6%), Chongqing (1.2% vs flat reading), and Shanghai (4.6% vs 4.1%). On a monthly basis, new home prices rose by 0.4 percent, the fourth straight month of growth, after a 0.5 percent gain in March which was the strongest rise in 21 months, as the economy fully re-emerged from pandemic disruptions.
2023-05-17
China New Home Prices Fall the Least in 9 Months
Average new home prices in China's 70 major cities dropped by 0.8 percent year-on-year in March 2023, after a 1.2 percent fall in the previous month. This was the 11th straight month of decrease in new home prices but the softest pace since June 2022, amid efforts from Beijing since last year to speed up policy measures to support a recovery of the ailing property sector. Among the Chinese biggest cities, prices fell in Tianjin (-1.6% vs 2.2% in February), Shenzhen (-1.5% vs -1.1%), and Guangzhou (-0.2% vs -0.6%). Meantime, prices in Chongqing were flat after declining 0.4% previously, while those in Beijing (4.6% vs 4.7%) and Shanghai (4.1% vs 3.9%) increased further. On a monthly basis, new home prices rose by 0.5 percent, the most in 21 months, after a 0.3 percent gain in February, as the Chinese government moved to reopen the economy from strict pandemic curbs.
2023-04-15
China New Home Prices Fall for 10th Month
Average new home prices in China's 70 major cities dropped by 1.2 percent year-on-year in February 2023, slowing from a 1.5 percent drop in the previous month. This was the tenth straight month of decrease in new home prices but the softest pace since July 2022, as Beijing ramped up policy support for the ailing property sector since last November. Among the Chinese biggest cities, prices fell in Tianjin (-2.2% vs 3.0% in January), Shenzhen (-1.1% vs -0.9%), Chongqing (-0.4% vs -0.6%), and Guangzhou (-0.6% vs -0.6%). Meantime, prices grew at softer paces in both Beijing (4.7% vs 5.2%) and Shanghai (3.9% vs 4.2%). On a monthly basis, new home prices rose by 0.3 percent, the most since July 2021, after a 0.1 percent gain in January, as the Chinese government moved to reopen the economy from pandemic curbs.
2023-03-16