China house prices sink fast

Tuesday, 18 November 2014

Fresh from Reuters, all China October new home prices were down -2.6% year on year, from -1.3%in September:

If you think that looks ugly, that’s because it does. It’s the deepest year on year falls anyone can remember. The number of falling cities improved slightly to 67 out of 70.

For the major cities, Beijing October new home prices fell -1.3% year on year versus +0.4% in September and existing home prices fell -3.2% year on year. Shanghai October new home prices fell -2% year on year versus -0.8% in September and existing home prices fell -1% year on year.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.