Tuesday, 18 August 2015

China new July home prices rise +0.3% m/m, -3.7% y/y

China's all-important property sector may be finally bottoming out after a year-long slump, with official data on Tuesday showing monthly home prices climbed for a third straight month in July. 

Nationwide new home prices rose 0.3 percent on month in July, versus a 0.4 percent gain in June and May's 0.2 percent rise. 

On an annual basis, July prices fell 3.7 percent, compared to the previous month's 4.9 percent slide, indicating the market could be in the nascent stage of a recovery. 

The nationwide house price index is a weighted average calculated by Reuters, based on data from China's National Bureau of Statistics.

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