China house price falls slow, slashes RRR

Monday, 20 April 2015

China’s March new home price data for March is out and is still falling at a good clip but the second derivative has improved. The annual fall is now down to 6.1%:

But the pace of monthly falls has slowed a lot:

We are at least now back into a rate of decline similar to past corrections. The breadth of declines also improved from 66 out of 70 cities seeing falling prices to 49 out of 70.

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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.