FX.co ★ China’s house prices rise by 0.7%

Chinese house prices were quite stable in June. In 70 largest Chinese cities, an average price for a new home grew by 0.7% from the prior month, the National Bureau of Statistics said. From June 2016, prices rose by 9.6%.

A rise in house prices in June was recorded in 60 out of 70 largest cities versus 56 cities a month earlier. The rise in prices for private homes was observed in all 70 cities.

On a year-on-year comparison, prices declined by between 0.8% and 5.5% in all of the 15 key Chinese cities in June.

In May 2017, house prices in 9 out of 15 cities fell or were unchanged, while in other cities prices advanced. Meanwhile, the price growth was below 5%, the Xinhua news agency said.