Average prices of new homes in 70 Chinese cities rose by 5.1 percent year-on-year in April 2020, the slowest pace since June 2018, as the COVID-19 outbreak scared potential buyers to go outside and make any transaction. Among China's biggest cities, Chongqing reported the largest increase (6 percent vs 6.2 percent in March), followed by Shenzhen (4.8 percent vs 5.2 percent), Beijing (3.3 percent vs 4.1 percent), Shanghai (2.7 percent vs 2.4 percent) and Guangzhou (0.7 percent vs 1.7 percent). Prices in Tianjin dropped 0.4 percent, after a 0.1 percent gain in March. On a monthly basis, new home prices advanced 0.5 percent in April, the most since October last year.
Housing Index in China averaged 4.65 percent from 2011 until 2019, 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 2020. source: National Bureau of Statistics of China
Housing Index in China is expected to be 7.00 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 6.00 in 12 months time. In the long-term, the China Newly Built House Prices YoY Change is projected to trend around 6.00 percent in 2021, according to our econometric models.