China prices showing signs of stability

China’s housing market has had tentative signs of stabilization, despite the continuing pressure on house prices in January, as the Danske Bank‘s latest report shows. The results are based on home prices for China’s 35 major cities that are recently released by China’s National Bureau of Statistics (CNBS).

China’s new home prices in January eased further from 1.6% y/y to 0.5% y/y, but seasonally adjusted new home prices increased 0.2% m/m in January after declining 0.3% m/m in December. This is the first month-on-month increase in new home prices since June last year.

Existing home prices also dropped further from -0.3% y/y to-1.4% y/y, while the pace of decline in seasonal adjusting existing home prices appears to be easing at 0.2% m/m in January compared to 0.4% m/m in December and 0.5% m/m in the same month last year.

Source: OPP.org.uk