China’s NBS has released January house price data and it’s a disappointment for anyone hoping for a quick turn in the market (ie Australia) with new home prices down 5.1% year-on-year in January:
In major cities, prices are also still fading:
- Shanghai new home prices down 4.2% year-on-year and existing prices down 1.6% year-on-year
- Beijing new home prices down 3.2% year-on-year and existing prices down 4.0% year-on-year