Average new home prices in China's 70 major cities rose 7.9 percent in July y/y
- prior was a 7.3 percent increase in June
More:
Home prices in Shenzhen +40.9% y/y leading the way.
In Xiamen, close behind at +39.2% y/y
New-home prices excluding government-subsidized housing gained in 51 cities (of the 70 tracked) last month (55 in June)
Prices down in 16 cities (10 in June)
No change in 3
(Let me just pull out the abacus .... 51+16+3=0 .... yep all good)
- Says Bloomberg:
A surge in home prices showed signs of slowing - Tightening measures have spread from larger hubs such as Shanghai and Shenzhen in a bid to tackle overheated home markets that have been buoyed by stimulus measures rolled out since November 2014
- Nanjing, Jiangsu's provincial capital, and Suzhou, a regional manufacturing base, last week raised down-payment requirements for some buyers of second residences, adding to restrictions introduced in Xiamen, a southern port city in Fujian province, and Hefei, the provincial capital of Anhui.
- "The recent policy tightening could curb rapid home-price growth,'' David Yang, a Shanghai-based analyst at UOB Kay Hian Investment Co, said before the data release. "Local polices will see further divergence as surging home prices and land costs trigger more tightening rules."