China has released its latest house price data 19 June 2016
The figures were published yesterday in fact, but posting here now as a heads up.
- yy +6.9% vs +6.2% prev
The HPI is based on transactions involving conventional and conforming mortgages - only on single-family properties. It is a weighted, repeat-sales index, which means that it measures average price changes in repeat sales or refinancings on the same properties. Percentage change from a year earlier, 70 medium and large cities. It is a weighted average calculated by Thomson Reuters based on data from the National Bureau of Statistics.
The trend is one of the more positive in recent Chinese data and, while prices in major cities may be easing, the spillover of higher prices to major second-tier cities is fuelling speculation that local governments there may also tighten restrictions on home purchases soon.
The local government of Tongzhou, the eastern suburban district of Beijing, tightened rules last month on purchases of second homes. The eastern cities of Nanjing and Suzhou have put limits on how much developers can offer in land auctions.
More detail from Reuters here