More on the China house price data out earlier, slower growth in prices
I posted very briefly on the China house price data for July, adding more now.
Price rises in July were slightly down on those in June.
- For the y/y, +9.7% (June was +10.7%)
While growth was slow at least the sector is holding up while other sectors of the economy are not doing quite so well.
The point about the property sector is it directly impacts on may industries in China. A slow down would increase downward pressure on the economy which is already seeing export effects from the trade war alongside less robust domestic demand. Authorities in China have been urging local governments to keep home prices from surging, despite some easier credit conditions. But on the other hand declines would not be welcome.