China Property - based on the latest September NBS data released today:
The national new home sales in September declined slightly slower than in August (-26% vs -27% after rounding, for the year-to-date year-on-year growth), with the shorter-term metrics for sales improving, largely thanks to the lower base in 2021.
But the national land sales and residential new starts declined further year-to-date year-on-year.
The average house price growth year-on-year for 70 major cities was more negative -2.3% vs -2.1% in August, but a similar -0.28% vs -0.29% in terms of the month-on-month change.
The heatmap below shows the month-on-month price changes each month since January 2011 for 70 major cities (each tiny row = one city).
From Real Estate Foresight's NBS Data Updates today.