About this Newsletter: Get a quick but finer view of (still) one of the most important sectors in China, with the weekly chart and commentary from Real Estate Foresight (REF) - drawing on 14+ years of REF's research on China housing markets.
Here's our updated 'bubble chart animation' for China new home price growth across 70 major cities over the past 12 months.
It is based on the official monthly NBS new home price growth indices month-on-month (X-axis) vs the year-on-year (Y-axis) to the latest May 2026 data released earlier today(also see the direct link here in case the embedded video doesn't show below):
Some observations:
The actual percentage changes for these growth indices need to be interpreted with some caution (e.g., vs compositional changes), but we believe the data present a solid view of the relative performance of cities.