China housing markets - fresh from today's Data Updates by Real Estate Foresight. New NBS data for November shows house prices across 70 major cities continue the gradual declines month-on-month and the deceleration year-on-year. At a city level, Sanya stands out with a +0.7% month-on-month, Chongqing +8.0% year-on-year.
November national new home sales data shows the YTD Y/Y growth slowed down further but still remains positive at +9% (RMB) and +4% (GFA). The monthly Y/Y growth turned less negative to -16% from -24% (GFA) and to -17% from -24% (RMB).
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