China: Growth in house prices inches down in February
House prices in 70 large- and medium-sized cities rose 0.5% in February in month-on-month terms according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). The print was down from January’s 0.6% increase and the lowest print in 10 months. According to the NBS, the sale prices of newly constructed residential buildings increased in 57 cities (58 in January).
House prices rose 10.4% annually in February, up from a 10.0% increase in January and the strongest print in nearly two years. Annual average growth in house prices increased from 6.9% in January to 7.3% in February.