A new report points to easing growth in China’s urban housing prices last year.
On 3 January the China Index Academy (中国指数研究院) released the “National Hundred City December 2018 and Full Year Average Housing Price Change Data” (全国百城2018年12月份及全年的住宅均价变动数据).
According to the report the hundred cities monitored saw a cumulative increase in their average new home price of 5.09%, for a deceleration of 2.06 percentage points compared to full year 2017.
The China Index Hundred City Price Index (中指百城价格指数) further indicates that in December 2018 the average new housing price for the hundred cities monitored was 14,678 yuan per square metre, for a 0.25% increase compared to the preceding month, or a deceleration of 0.02 percentage points compared to November.
In December ten major cities had an average pre-owned housing price of 38,691 yuan per square metre, for a decline of 0.82% compared to the previous month, or an expansion of 0.44 percentage points compared to November.
Average pre-owned housing prices in these ten major cities saw a 0.11% decline for the period from January to December 2018, as compared to a cumulative rise of 8.03% for 2017.
A senior executive from China Index Academy said that housing market adjustment policies will remain stable in future, as well as focus on tailored implementation and structural optimisation, leading to further stabilisation of housing prices.
“Upward momentum for housing prices in third and fourth-tier cities is markedly trending towards weakness, and the number of cities with cooling housing prices will further increase.”