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China Property- 3 highlights from June 2021 NBS data
Posted: 21 July, 2021

China Property - three highlights from today's NBS data for June, and Real Estate Foresight's Data Update reports:

1. House price growth slowing down / stabilising, as expected with all the policy tightening, with an average y/y growth rate across 70 major cities at +4.30% vs +4.47% in May. The heatmap below shows the m/m price growth each month (columns) across 70 cities (rows) since 2011. 

2. Sales volume growth (GFA) continues to slow down but remains strong vs prior years, even after accounting for the post-Covid bounceback.

3. Land sales year-to-date y/y declined further in terms of the national (sqm area not GFA) figure, the residential GFA for 340 cities, and the acquisitions by 20 major developers, but the growth was positive and accelerated in terms of land sales by the 22 major cities under the new land sales rules.

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