Up or Down? (July 2018)
Sales Prices of Residential Buildings in 70 Medium and Large-sized Cities in July 2018
The house prices in China have been rising at fast pace in recent months. Average new home prices in 70 cities increased at 5.8 percent in July on a year on year basis, which is the steepest annual gain since September 2017. The acceleration in price growth has started since April as the monthly gains between April and July are 0.5, 0.7,1 and 1.21 percent respectively.
As for cities, the new house prices in tier 1 cities keep steady compared to the same month last year. The two biggest month-on-month increases were recorded in Hainan island, both Haikou and Sanya saw price increases at more than 15% annually. 65 cities out of 70 cities recorded higher prices, surpassing the 59 cities in April. Many suggest that third tier cities drove this round of price growth due to the lowest housing stock in years.
Read the original article at stats.gov