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Free AccessMNI US Macro Weekly: Politics To The Fore
MNI Credit Weekly: Le Vendredi Noir
MNI 5 THINGS: China Jan Home Prices Rise 10.8% Y/Y, 0.6% M/M
BEIJING (MNI) - MNI highlights five points from housing price data released
by China's National Bureau of Statistics (NBS) on Friday:
--The average price of new homes in 70 major cities, excluding subsidized
units, increased 10.8% y/y in January, the fastest gain in 20 months. It
compared with a 10.6% gain in December, according to MNI calculations. On m/m
basis, the average price gained 0.6%, cooling from December's 0.8% gain.
--Gains in housing prices in the top 15 cities followed the overall trend
-- accelerating on year but decelerating on month. The gain of 6.1% y/y marked
the sharpest since August 2017 while growth eased to 0.4% m/m from 0.7% in
December.
Table 1: China Residential Property Prices - Average Price Increases
Average Price Chg % Jan Dec Nov Oct Sep Aug Jul Jun
--------------------------------------------------------------------------
15-Top cities M/M 0.4 0.7 0.8 0.6 0.4 1.1 0.8 0.9
Y/Y 6.1 5.7 5.1 4.2 3.6 2.9 1.6 0.8
70-Large and medium Cities M/M 0.6 0.8 1.0 1.0 1.0 1.5 1.2 1.1
Y/Y 10.8 10.6 10.3 9.7 8.9 8.0 6.6 5.8
Source: MNI - MNI Calculation based on NBS data
--The numbers of cities reporting housing price increases on a yearly basis
fell in January -- 68 out of 70 cities (69 in Dec) and 13 out of 15 top cities
(14 in Dec).
Table 2: China Residential Property Prices - No. of cities where prices are
rising/falling
No. Cities Rising/Falling Jan Dec Nov Oct Sep Aug Jul Jun
--------------------------------------------------------------------------------
15-Top cities M/M Rise 12 12 11 13 11 12 11 10
Fall 3 3 3 2 2 1 2 2
Net Rise 9 9 8 11 9 11 9 8
70-Large and medium Cities M/M Rise 58 59 63 65 64 67 65 63
Fall 8 8 5 4 3 1 3 4
Net Rise 50 51 58 61 61 66 62 59
15-Top cities Y/Y Rise 13 14 13 12 12 13 11 8
Fall 2 1 2 3 2 2 4 7
Net Rise 11 13 11 9 10 11 7 1
70-Large and medium Cities Y/Y Rise 68 69 68 67 67 68 65 61
Fall 2 1 2 3 2 2 4 9
Net Rise 66 68 66 64 65 66 61 52
Source: MNI - MNI Calculation based on NBS data
--Pre-owned home prices, a better gauge of property market activity, fell
or was unchanged in all four tier-1 cities month-on-month, while rising in most
tier-2 (21 out of 31)and tier-3 cities (20 out of 35).
--New-home price in Dali, the well-known tourism spot in southwest Yunnan
province, registered the sharpest monthly gain at 2.0%. On a y/y basis, Xi'an,
the capital of northwest Shaanxi province, recorded the best gain for a second
month at 23.5%, revealing strong demand form tier-2 cities when 'hot' cities are
cooling down.
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MAQDS$,MAUDR$,MAUDS$,M$A$$$,M$Q$$$,M$U$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.