New Home Prices in China Grow at a Weaker Pace in December

New home prices in China grew at the slowest pace in 17 months during December 2019, as a result of wider curbs on the realty sector denting its contribution towards China’s already weakening economy. According to data released by the NBS, new home prices across 70 major cities in China increased by 6.6% on average.

The growth in new home prices has slowed down since the previous month when they had posted a 7.1% increase, but managed to continue growing for the 56th consecutive month. The real estate sector in China has seen some weakness after the government came down hard on property speculation since 2016 to stem the surge in home prices.

However, in the wake of trade tensions that have considerably slowed down economic growth in China, these curbs have made it more challenging for the property market to maintain its strength. On a monthly basis, home prices gained 0.3% in December from the previous month – the same pace of monthly gains seen in November.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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