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Dec Home Price Declines Accelerated

CHINA DATA

China home price declines accelerated modestly in Dec. The fall was 0.45%m/m for new home prices, versus a 0.37% decline in Nov (per BBG). In y/y terms new home prices were down nearly 0.80%. Second hand home prices fell by 0.79% in m/m terms (BBG).

  • New home prices fell in 62 cities in Dec, versus 59 for Nov. For existing homes this fall was recorded in all 70 cities slightly worse than Nov's 69 result.
  • By major city, price falls accelerated for Shenzhen and Guangzhou, but were flat for Beijing (after Nov's -0.1% m/m decline). Shanghai's rise eased to 0.2% m/m, versus +0.6% recorded in Nov (RTRS).

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