China’s new home prices show slight in Dec. ’24

New home prices in China increased slightly faster in December 2024, according to a private survey. The property sector, facing a crisis, is still trying to stabilise despite government support.

The average price of new homes in 100 cities increased by 0.37 per cent from the previous month, slightly higher than the 0.36 per cent rise in November, based on data from China Index Academy.

Year-on-year, the average price also showed an uptick, rising by 2.68 per cent in December, compared to 2.40 per cent growth the previous month. These figures offer a preliminary glimpse into market trends ahead of official data release.

The National Bureau of Statistics of China is scheduled to publish official home price data on January 17th. This official release will provide a more comprehensive picture of the market’s performance.

Attribution: Reuters

Subediting: Y.Yasser