All China October new home prices +8.6% y/y (unchanged from Sep)
For the m/m result its +1.0%, above September's read of +0.4%
- +0.2 pct m/m (sept unchanged vs prev month)
Shanghai new home prices -0.4 pct y/y (Sept -0.2 pct)
- +0.1 pct m/m (sept -0.1 pct)
Chinese authorities have tried to direct credit growth away from fuelling rapidly growing house prices, wantng deleveraging.
On the other hand they don't want falling prices.
So, walking a fine line and according to this data they seem to be having some success. <insert questions on the legitimacy of Chinese data here if that's your thing :-D >