The latest official data points to year-on-year housing price growth in China’s first-tier cities easing for the 15th consecutive month in December 2017, with analysts expecting growth to further ease in 2018 due to property control policies.
Data released by China’s National Bureau of Statistics for 70 large and medium-sized cities indicates that new commercial residential housing and pre-owned housing prices in China’s first tier cities saw their year-on-year growth shrink for the 15th consecutive month in December.
Liu Jianwei (刘建伟), a senior statistician from the NBS, said that the real estate control policies launched by municipal governments last year were continuing to have an impact, with real estate market remaining steady in general across the 15 hotspot cities covered by the agency.
In December seven Chinese cities saw housing prices post on-month declines, including Beihai, Bengbu, Fuzhou, Ganzhou, Guangzhou, Shenzhen and Xiamen, while in other cities including Beijing, Hangzhou and Hefei they held steady.
Nine cities posted year-on-year home price declines in December, including Beijing, Chengdu, Hangzhou, Hefei, Wuxi and Zhengzhou.