Average new home prices in China's 70 major cities rose by 4.9 percent year-on-year in May 2021, accelerating for a fifth straight month to the biggest annual gain since June 2020, as strong property demand was enough to offset government cooling measures. Among China's biggest cities, Guangzhou recorded the largest home price increase (11.2 percent vs 9.9 percent in April), followed by Chongqing (8 percent vs 6.7 percent), Shanghai (4.5 percent vs 4.9 percent), Beijing (4.3 percent vs 4.5 percent), Shenzhen (3.7 percent vs 3.9 percent), and Tianjin (3.9 percent vs 3.6 percent). On a monthly basis, new home prices went up by 0.6 percent in May, the same as in April and remaining the largest monthly gain since August 2020. source: National Bureau of Statistics of China
Housing Index in China averaged 4.68 percent from 2011 until 2021, 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 June of 2021.
Housing Index in China is expected to be 4.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Housing Index in China to stand at 5.00 in 12 months time. In the long-term, the China Newly Built House Prices YoY Change is projected to trend around 5.30 percent in 2022 and 5.50 percent in 2023, according to our econometric models.