And now Chinese property prices roll over

Monday, 17 July 2023

I noted over the weekend the shocking state of Chinese property sales volumes:

Falling volumes usually presage falling prices and that is now confirmed as well. After a brief rebound following the pandemic reopening, May registered accelerating new home price falls, down 0.6% month-on-month:

The weakness is broad-based after the bull trap:

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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.