China’s new home prices in 70 cities shrank by 5.7% year-on-year in November 2024, following the steepest decline in over nine years of 5.9% in the previous month. This marked the 17th consecutive month of decreases, suggesting that Beijing’s continuous attempts to mitigate the prolonged downturn in the property sector, such as reducing mortgage rates and slashing home buying costs, had yet to reverse conditions. Prices continued to drop in most cities, including Beijing (-5.3% vs -4.9% in October), Guangzhou (-9.1% vs -10.4%), Shenzhen (-7.1% vs -8.1%), Tianjin (-2.9% vs -2.8%), and Chongqing (-5.8% vs -6.3%). On the other hand, cost increased further in Shanghai (5.0% vs 5.0%). On a monthly basis, new home prices dropped by 0.5%, the same decline as in October, maintaining the slowest fall in seven months. source: National Bureau of Statistics of China

Housing Index in China decreased by 5.70 percent in November from -5.90 percent in October of 2024. Housing Index in China averaged 3.36 Percent from 2011 until 2024, 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 2025.

Housing Index in China decreased by 5.70 percent in November from -5.90 percent in October of 2024. Housing Index in China is expected to be -5.80 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 -3.50 Percent in 2025 and -1.00 Percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-11-15 01:30 AM
House Price Index YoY
Oct -5.9% -5.8% -5.8%
2024-12-16 01:30 AM
House Price Index YoY
Nov -5.7% -5.9% -6.0%
2025-01-17 01:30 AM
House Price Index YoY
Dec -5.7% -5.8%


Related Last Previous Unit Reference
House Price Index MoM -0.50 -0.70 percent Nov 2024
House Price Index YoY -5.70 -5.90 Percent Nov 2024
Housing Starts 67308.44 61226.93 Tens of Thousands Square Metre Nov 2024
New Home Sales 74871.00 67486.00 CNY Hundred Million Nov 2024
Property Investment -10.40 -10.30 percent Nov 2024
Residential Property Prices -7.38 -5.16 Percent Jun 2024

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
-5.70 -5.90 12.60 -6.10 2011 - 2024 Percent Monthly
NSA


News Stream
China New Home Prices Fall for 17th Month
China’s new home prices in 70 cities shrank by 5.7% year-on-year in November 2024, following the steepest decline in over nine years of 5.9% in the previous month. This marked the 17th consecutive month of decreases, suggesting that Beijing’s continuous attempts to mitigate the prolonged downturn in the property sector, such as reducing mortgage rates and slashing home buying costs, had yet to reverse conditions. Prices continued to drop in most cities, including Beijing (-5.3% vs -4.9% in October), Guangzhou (-9.1% vs -10.4%), Shenzhen (-7.1% vs -8.1%), Tianjin (-2.9% vs -2.8%), and Chongqing (-5.8% vs -6.3%). On the other hand, cost increased further in Shanghai (5.0% vs 5.0%). On a monthly basis, new home prices dropped by 0.5%, the same decline as in October, maintaining the slowest fall in seven months.
2024-12-16
China New Home Prices Drop the Most in Over 9 Years
China’s new home prices in 70 cities declined by 5.9% year-on-year in October 2024, following a 5.8% drop in the previous month. This marked the 16th consecutive month of decrease and the steepest pace since April 2015, despite Beijing’s continuous efforts to mitigate the impact of persistent weakness in the property sector, including lowering mortgage rates and cutting home buying costs. Prices dropped at steeper rates in most cities, such as Beijing (-4.9% vs -4.6% in September), Guangzhou (-10.4% vs -10.3%), Shenzhen (-8.1% vs -8.6%), Tianjin (-2.8% vs -2.3%), and Chongqing (-6.3% vs -6.2%). On the other hand, cost continued to increase in Shanghai (5.0% vs 4.9%). Monthly, new home prices dropped by 0.5% in October, softer than a 0.7% fall in the prior five months.
2024-11-15
China New Home Prices Fall the Most Since 2015
China’s new home prices in 70 cities fell by 5.7% year-on-year in September 2024, following a 5.3% decline in the previous month. This marked the 15th consecutive month of decrease and the steepest pace since May 2015, despite Beijing’s continuous efforts to address the persistent weakness in the property sector, including reducing mortgage rates and lowering home buying costs. Prices dropped at steeper rates in most cities, such as Beijing (-4.6% vs -3.6% in August), Guangzhou (-10.3% vs -10.1%), Shenzhen (-8.6% vs -8.2%), Tianjin (-2.3% vs -1.4%), and Chongqing (-6.2% vs -5.4%). On the other hand, cost continued to increase in Shanghai (4.9% vs 4.9%). Monthly, new home prices dropped by 0.7% for the fifth straight month in September, staying at their fastest fall since October 2014.
2024-10-18