Average new home prices in China's 70 major cities declined by 0.1 percent year-on-year in May 2022, reversing from a 0.7 percent gain a month earlier. The latest figure represented the first drop in new home prices since September 2015, as tighter COVID-19 restrictions dented buyer confidence in the property market. Among China's biggest cities, prices dropped further in Tianjin (-1.4 percent vs -0.3 percent in April), while softer rises were seen in Chongqing (3.9 percent vs 6.1 percent), Guangzhou (1.0 percent vs 2.0 percent), and Shanghai (3.4 percent vs 3.8 percent). Meantime, prices were unchanged at Shenzhen (at 3.9 percent) while edged up slightly in Beijing (5.9 percent vs 5.8 percent). On a monthly basis, new home prices dropped by 0.1 percent in May, the second straight month of drop, after a 0.2 percent drop in April. source: National Bureau of Statistics of China

Housing Index in China averaged 4.51 percent from 2011 until 2022, 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 2022.

Housing Index in China is expected to be 1.80 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 2023, according to our econometric models.

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China Newly Built House Prices YoY Change



Calendar GMT Actual Previous Consensus TEForecast
2022-05-18 01:30 AM Apr 0.7% 1.5% 1.7%
2022-06-16 01:30 AM May -0.1% 0.7% 0.5%


Related Last Previous Unit Reference
Housing Index -0.10 0.70 percent May 2022
New Home Sales 42317.00 33248.00 CNY HML May 2022

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
-0.10 0.70 12.60 -6.10 2011 - 2022 percent Monthly
NSA

News Stream
China New Home Prices Fall for 1st Time in Near 7 Years
Average new home prices in China's 70 major cities declined by 0.1 percent year-on-year in May 2022, reversing from a 0.7 percent gain a month earlier. The latest figure represented the first drop in new home prices since September 2015, as tighter COVID-19 restrictions dented buyer confidence in the property market. Among China's biggest cities, prices dropped further in Tianjin (-1.4 percent vs -0.3 percent in April), while softer rises were seen in Chongqing (3.9 percent vs 6.1 percent), Guangzhou (1.0 percent vs 2.0 percent), and Shanghai (3.4 percent vs 3.8 percent). Meantime, prices were unchanged at Shenzhen (at 3.9 percent) while edged up slightly in Beijing (5.9 percent vs 5.8 percent). On a monthly basis, new home prices dropped by 0.1 percent in May, the second straight month of drop, after a 0.2 percent drop in April.
2022-06-16
China New Home Price Growth at 6-1/2-Year Low
Average new home prices in China's 70 major cities rose by 0.7 percent year-on-year in April 2022, after a 1.5 percent gain a month earlier. This was the weakest rise in new home prices since October 2015, as Beijing's deleveraging campaign triggered a liquidity crisis in some major property developers. Among China's biggest cities, prices increases were mainly seen in Chongqing (6.1 percent vs 8.1 percent in March), Guangzhou (2.0 percent vs 3.0 percent), Shanghai (3.8 percent vs 4.1 percent), Beijing (5.8 percent vs 5.7 percent), and Shenzhen (3.9 percent vs 4.5 percent). Meantime, prices in Tianjin fell 0.3 percent after gaining 0.5 percent in March. On a monthly basis, new home prices dropped 0.2 percent in April, the first drop since last December, after a flat reading in the prior two months.
2022-05-18
China New Home Price Growth at Over 6-Year Low
Average new home prices in China's 70 major cities rose by 1.5 percent year-on-year in March 2022, after a 2.0 percent gain a month earlier. This was the weakest rise in new home prices since November 2015, as Beijing's deleveraging campaign triggered a liquidity crisis in some major property developers. Among China's biggest cities, prices increases were mainly seen in Chongqing (8.1 percent vs 8.5 percent in February), Guangzhou (3.0 percent vs 4.2 percent), Shanghai (4.1 percent vs 4.1 percent), Beijing (5.7 percent vs 5.5 percent), Shenzhen (4.5 percent vs 3.8 percent), and Tianjin (0.5 percent vs 1.0 percent). On a monthly basis, new home prices were flat for the second straight month, amid COVID-19 outbreaks.
2022-04-15