China May new home prices growth fastest in five months

BEIJING, June 18 (Reuters) – New home prices in China rose at their fastest pace in five months in May, complicating government efforts to keep frothy housing markets under control as it rolls out.

China’s property sector continued to recover but at a slower pace in June, with fewer cities reporting month-on-month rises in new home prices, an official survey showed Monday.

Average new home prices in China’s 70 major cities rose 0.7% in May from the previous month, picking up from a 0.6% rise in April and the quickest pace since December, according to Reuters calculations based on National Bureau of Statistics (NBS) data on Tuesday. That marked the 49th straight month of price gains.

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China’s new home prices in May grows at fastest pace in five months June 18, 2019 Author World Comments Off on China’s new home prices in May grows at fastest pace in five months Residential buildings in Tongzhou District on May 31, 2017 in Beijing, China.

China. prices rose for 50 months in a row in June, but the pace of growth slowed as a range of cooling measures initiated by the government kicked in. The average cost of a new home increased by.

Home price growth slowed. in activity. New home sales fell 6.9% to a 673,000 annualized pace in April, down from an 11-year high a month earlier, while existing home sales fell 0.4% from March to a.

China’s May new home prices growth fastest in five months Tue, Jun 18, 2019 – 10:16 AM New home prices in China rose at their fastest pace in five months in May, complicating government efforts to keep frothy housing markets under control as it rolls out more stimulus for the slowing economy.

The data, along with a raft of official economic indicators released on Wednesday, suggests growth may be stabilising. conditions improve. New home prices in China also grew slightly faster in.

Concurrently, new export business fell for the second straight month.At the same time, companies reduced staffing levels again as part of efforts to cut costs and raise efficiency.On the price front, survey showed that cost pressures picked up in May, with average input prices rising at the fastest rate for three months.

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