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China new home prices extend declines in July
Only 17 of 70 tracked cities posted monthly gains, Reuters calculations showed, as weakness persisted across smaller markets.
- China's new home prices remained stagnant in July, with prices falling 0.1% from June, matching the previous month's decline, according to data released on Monday.
- Property sales, investment, and new construction starts fell faster in the first seven months, as economic growth faltered in the second quarter, expanding at only 4.3% year-on-year.
- Of the 70 cities tracked, only 17 reported monthly price gains in July; tier-two cities fell 0.1%, tier-three cities dropped 0.3%, while tier-one existing homes rose 0.2%.
- Beijing further relaxed home-buying curbs in early August, allowing more households to purchase homes in central areas and access additional mortgage financing through the housing provident fund.
- Centaline Property analyst Zhang Dawei said the market's "K-shaped" recovery pattern will persist, with local governments tailoring measures to conditions, focusing on unlocking demand in major cities and reducing inventories in lower-tier areas.
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12 Articles
12 Articles
China’s New Home Prices Weaken Again as Recovery in Smaller Cities Falters
China’s New Home Prices Weaken Again as Recovery in Smaller Cities Falters - Official July data showed second-tier city home prices slipping again after a brief stabilization, underscoring uneven progress in China’s property-market recovery
·Beijing, China
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China New Home Prices Fall at Faster Pace, Damping Rebound Hopes
·New York, United States
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Coverage Details
Total News Sources12
Leaning Left2Leaning Right3Center3Last UpdatedBias Distribution38% Center, 37% Right
Bias Distribution
- 38% of the sources are Center, 37% of the sources lean Right
38% Center
L 25%
C 38%
R 37%
Factuality
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