China Property Signals (#37): July 2026 NBS Macro-Property And House Price Data In 2 Charts

About this Newsletter: Get a quick but more granular 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.

In July, new and secondary home price growth rates continued to turn slightly less negative year-on-year by our measure of an average for 70 major cities (NBS releases price growth index data for individual cities):

However, in terms of new home sales, new starts, and investment, on a 12-month rolling basis, the metrics turned more negative:

Also see our previous post on how this fits with the fundamental redefinition of what makes up a 'housing market' in China.

To discover more about our work on China property, please message Robert Ciemniak directly or visit https://www.realestateforesight.com