Average new home prices in China's 70 major cities dropped by 1.5 percent year-on-year in December 2022, after a 1.6 percent decline in the previous month which was the steepest pace since August 2015, amid a property downturn due to a mounting debt problem among developers as well as the impact of a surge in COVID cases. Among the Chinese biggest cities, prices fell in both Tianjin (-4.0% vs 4.0% in November) and Shenzhen (-0.2% after flat reading) while Chongqing saw a flat price following a 0.7 percent rise previously. Meantime, prices grew faster in Beijing (5.8% vs 5.7%), Shanghai (4.1% vs 4.0%), and Guangzhou (0.4% vs 0.2%).On a monthly basis, new home prices were down 0.2 percent in December, the same as in November, pointing to the fifth monthly decrease. The property sector is expected to recover gradually this year, supported by a series of measures for home buyers and developers on the back of Beijing's abrupt reopening. . source: National Bureau of Statistics of China

Housing Index in China averaged 4.23 Percent from 2011 until 2022, reaching an all time high of 12.60 Percent in November of 2016 and a record low of -6.10 Percent in March of 2015. This page provides the latest reported value for - China Newly Built House Prices YoY Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. China Newly Built House Prices YoY Change - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.

Housing Index in China is expected to be -1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Newly Built House Prices YoY Change is projected to trend around 2.70 percent in 2024 and 3.00 percent in 2025, according to our econometric models.

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China Newly Built House Prices YoY Change



Calendar GMT Actual Previous Consensus TEForecast
2022-12-15 01:30 AM Nov -1.6% -1.6% -1.8%
2023-01-16 01:30 AM Dec -1.5% -1.6% -2%
2023-02-16 01:30 AM Jan -1.5% -1.3%


Related Last Previous Unit Reference
Housing Index -1.50 -1.60 Percent Dec 2022
New Home Sales 116747.00 104188.00 CNY HML Dec 2022

China Newly Built House Prices YoY Change
In China, Housing Index is measured by year-over-year change in the index of newly built residential buildings in 70 medium and large cities. The index is calculated in weighted average method and the weight of each city is based on the population.
Actual Previous Highest Lowest Dates Unit Frequency
-1.50 -1.60 12.60 -6.10 2011 - 2022 Percent Monthly
NSA

News Stream
China New Home Prices Fall for 8th Month
Average new home prices in China's 70 major cities dropped by 1.5 percent year-on-year in December 2022, after a 1.6 percent decline in the previous month, marking the steepest pace since August 2015 amid a property downturn due to developers' mounting debt as well as the impact of surging COVID cases. Among the biggest Chinese cities, prices fell in Tianjin (-4.0% vs 4.0% in November) and Shenzhen (-0.2% after flat reading), while prices in Chongqing saw a flat following a previous 0.7 percent rise. At the same time, prices grew faster in Beijing (5.8% vs 5.7%), Shanghai (4.1% vs 4.0%), and Guangzhou (0.4% vs 0.2%). On a monthly basis, new home prices were down 0.2 percent in December, the same as in November, pointing to the fifth consecutive decrease. The property sector is expected to recover gradually this year, supported by a series of measures for home buyers and developers on the back of Beijing's abrupt reopening.
2023-01-16
China New Home Prices Fall for 7th Month
Average new home prices in China's 70 major cities dropped by 1.6 percent year-on-year in November 2022, the same pace as in the previous month. This was the seventh straight month of decrease in new home prices which remained the steepest pace in the sequence and the fastest fall since August 2015, amid a lingering property crisis due to a mounting debt problem among developers as well as the impact of rising COVID cases and strict lockdowns or curbs. Among China's biggest cities, prices in Tianjin fell much faster (-4% vs -0.3% in October), while those in Shenzhen were flat after falling 0.7 percent previously. Meantime, prices grew in Chongqing (0.7% vs -0.6%), and Guangzhou (0.2% vs -0.3%) while picked up sharply in both Beijing (5.7% vs 0.4%) and Shanghai (4.0% vs 0.3%). On a monthly basis, new home prices were down 0.2 percent, after a 0.3 percent fall in October, pointing to the fourth monthly decline.
2022-12-15
China New Home Prices Fall the Most in Over 7 Years
Average new home prices in China's 70 major cities dropped by 1.6 percent year-on-year in October 2022, after a 1.5 percent decline a month earlier. It was the sixth straight month of decrease in new home prices, the steepest pace in the sequence, and the fastest fall since August 2015, amid property woes linked to a mounting debt crisis among developers as well as the impact of rising COVID cases and strict lockdowns or curbs. Among China's biggest cities, prices fell in Tianjin (-0.3% vs -4.3% in September), Chongqing (-0.6% vs 1.4%), Shenzhen (-0.7% vs 0.9%), and Guangzhou (-0.3% vs -0.3%) while increased much softer in both Beijing (0.4% vs 6.1%) and Shanghai (0.3% vs 3.8%). On a monthly basis, new home prices were down 0.3 percent, after a 0.2 percent fall in September. In the full work report of the Party Congress last month, China reiterated "housing is for living, not for speculation".
2022-11-16