China February house price data via the stats people there
Beijing new home prices -0.3 pct y/y (January was -1.2 pct)
- Beijing new home prices -0.3 pct m/m (+0.2 pct)
Shanghai new home prices -0.6 pct y/y (-0.2 pct)
- Shanghai new home prices -0.2 pct m/m (-0.4 pct)
Guangzhou new home prices +3.1 pct y/y (January +3.7 pct)
- Guangzhou new home prices -0.4 pct m/m (-0.4 pct)
Shenzhen new home prices -2.5 pct y/y (January -3.4 pct)
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And. via Reuters calculation
All China February new home prices +5.2 pct y/y (January+5.0 pct)
- +0.2 pct m/m (+0.3 pct)
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Prices for new homes rose in 44 cities m/m (+52 in January) ) and 59 y/y (59)
prices in tier one cities fell y/y, 2nd and 3rd tier prices rose
Chinese authorities have been battling rapidly rising house prices, and the over-leverage impact (and all the nasties that flow for that) for a long time. If the data is correct they are having some success and have avoided a hard landing.
