China Property - this updated animation from Real Estate Foresight gives an intuitive feel for what's been happening to China house prices, by the official NBS house price growth measures for newly sold homes, across 70 major cities since mid-2021, as the developers' distress became more pronounced, to August 2022. The X-axis shows the month-on-month change, the Y-axis the year-on-year change:
1. The 'bubbles' overall have moved towards the lower-left corner (down both Y/Y and M/M) but to a varying degree
2. Lower-tier cities (in green) decelerated/declined more significantly (none of them in the top-right section now)
3. Some cities stayed relatively resilient, with the top performers Y/Y now Hangzhou, Beijing, Chengdu, and Yinchuan (capital of Ningxia Hui Autonomous Region) though all of them have decelerated Y/Y
The NBS price growth indices tend to cover mainly the core district areas of the cities.