via Reuters:
- December Beijing new home prices +25.9 pct y/y (November +26.4 pct)
- Shanghai new home prices +26.5 pct y/y (November +29.0 pct)
- Shenzen new home prices +23.5% y/y (November +27.9% y/y)
- All China December new home prices +12.4 pct y/y (November +12.6 pct) - (Reuters calculation)
- Prices rise in 46 cities m/m (November was a rise in 55 cities)
- prices up y/y in 65 cities
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Property price rises have been contributing to economic growth, driving a lot of investment. The concern is the accompanying surge in debt levels.
(And yes, I am aware of the irony of me in Australia writing this about China :-D )
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There are curbs being put into place (and there are some already in place) to try to calm the price rises. The 'All China' rise is slightly under the November pace, so these may be impacting.
Some of the m/m changes showing a slowdown also:
Shanghai December new home prices -0.2% m/m
- Beijing -0.1% m/m
- Shenzen -0.4% m/m
Shanghai December existing home prices -0.5% m/m
- Beijing +0.2% m/m
