I posted earlier on the 7.5% y/y house price rise in July for ‘all China’ (the seventh straight month of year-on-year increases). The m/m change, though, slowed in July (for a fourth consecutive month):

  • Average new home prices in 70 major Chinese cities up 0.7% in July m/m (vs. an increase of 0.8% in June)

Reuters reports:

The property sector is a rare bright spot in China’s slowing economy, which is grinding this year towards its slowest annual growth in 23 years.

The property sector is a rare bright spot in China’s slowing economy, which is grinding this year towards its slowest annual growth in 23 years.

Heated property demand stems largely from a lack of investment options for domestic investors, with credit being pumped into real estate for quick returns, rather than into production, as exports and domestic demand slow.

  • revenues from Chinese property sales rose 37.8% y/y in the first seven months ( from up 43.2 percent rise in January-June)