China property price data:
- New home prices rose 0.1% y/y in Oct
- November new home prices rise m/m in 33 cities (27 in September)
- November new home prices rise y/y in 21 cities (16 in September)
More:
- Shanghai November existing home prices rise 1.0% m/m
- Shanghai November existing home prices rise 10.8% y/y
- Beijing November existing home prices rise 19.1% y/y
- Beijing November existing home prices rise 0.8% m/m
- Shanghai November new home prices rise 13.1% y/y
- Shanghai November new home prices rise 1.8% m/m
- Beijing November new home prices rise 7.7% y/y
Beijing and Shanghai are rolling but there are a lot of people in China who don't live there. I also don't understand the demand to move to a city where the air is worse than chain-smoking cigarettes.
Back in April. prices were down 6.1% y/y. The thinking is that money was piling into stocks instead during that period but after the latest crash in Chinese stocks, it's back to housing as the bet-du-jour.
