According to Reuters, China’s new home prices in June 2024 fell by 4.5% year-on-year, marking the fastest decline in nine years. This drop is indeed deeper than the 3.9% slide observed in May. Additionally, property sales and investment have also slumped, adding pressure on policymakers to introduce more support measures.
Sources:
tradingeconomics.com/china/housing-index
China's new home prices in June fell at the fastest clip in nine years while property sales and investment slumped, per Reuters.
New home prices slid 4.5% from a year earlier, hitting the lowest since June 2015, deeper than a 3.9% slide in May. pic.twitter.com/2lYCtuS73V
— unusual_whales (@unusual_whales) August 6, 2024