HomeBusinessChina's Jan new home prices rise for first time month-on-month since Sep

China’s Jan new home prices rise for first time month-on-month since Sep

BEIJING: China’s new home prices rose for the first time month-on-month since September in January, official knowledge confirmed on Monday (Feb 21), as efforts by authorities to melt the blow from powerful regulatory curbs on the sector supported purchaser sentiment.

Average new home prices in China’s 70 main cities rose 0.1 per cent month-on-month in January, in contrast with a 0.2 per cent drop in December, based on Reuters calculations from knowledge launched by the National Bureau of Statistics (NBS).

New home prices rose 2.3 per cent in January in opposition to the identical interval final 12 months, slower than the two.6 per cent progress recorded in December.

China’s property market, accounting for 1 / 4 of gross home product by some metrics, has slowed attributable to Beijing’s push to chop leverage within the sector amid defaults at heavily-indebted gamers reminiscent of China Evergrande Group.

 

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