GXC - China Housing Prices Continued To Slump In February
2024-03-15 05:42:00 ET
Summary
- The NBS published its 70-city housing prices data, which showed primary and secondary market prices declining for the 9th and 10th consecutive months, respectively.
- Average primary market prices dropped -0.36% MoM and average secondary market prices dropped -0.62% MoM.
- Given the heavy weighting of property in household portfolios, it is of the utmost importance for China to stabilise the property market if it is to restore confidence.
By Lynn Song
Property prices continued to decline in early 2024
The National Bureau of Statistics published the February data for a 70-city sample of housing prices in China, which showed a continued price decline in line with expectations. Average primary market prices dropped -0.36% MoM and average secondary market prices dropped -0.62% MoM. Both were similar to the MoM declines in January....
China Housing Prices Continued To Slump In February