China: House prices rise for eight consecutive months
January 18, 2016
House prices in 70 large- and medium-sized cities rose 0.3% in December over the previous month, according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). The print matched the 0.3% increase tallied in the previous month. According to the NBS, the sales prices of newly-constructed residential buildings declined in 31 cities, increased in 29 cities and remained flat in 11 cities.
Compared to the same month of the previous year, house prices jumped 1.6% in December. The print came in well above the 0.9% increase tallied in November and thereby marked the highest level in one-and-a-half years. As a result of the continued upward trend in prices that has been observed since May 2015, annual average variation in house prices in December rose from minus 3.7% in November to minus 3.2%.