China’s National Home Seeker Index Rises 2.1% in May, New and Pre-owned Housing Prices Edge Lower

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A key index for Chinese home purchases saw a sizeable on-month rise in the month of May, as China’s economy makes a gradual recovery from the initial impacts of its COVID-19 lockdown.

The May “National Home Finder Heat Index ” (全国找房热度) prepared by 58.com and Anjuke saw a rise of 2.1% compared to the preceding month.

The “May Citizens Anju Index Report” (5月国民安居指数报告) released on 1 June further indicates that the May Home Buyer Confidence Index (购房者信心指数) was 107.2, for an on-month rise of 4.4%.

According to the report the average advertised pre-owned home price for Chinese 67 cities surveyed was 15,472 yuan/ square metre, for an on-month decline of 0.32%.

The Hubei province capital of Wuhan saw the biggest decline at 2.5%, while other cities posting drops included Nantong, Hengyang, Anshan and Jining.

The average online price for new homes across 67 Chinese cities in May was 16,504 yuan/square metre, for an on-month decline of 0.61%.

Out of 67 cities surveyed 26 cities saw on-month rises in new housing prices, including Xiamen – which saw a 4.1% increase – Lanzhou, Zhengzhou, Foshan and Xi’an.

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