China property prices keep falling

Wednesday, 18 March 2015

China’s NBS has released February new home prices and the shakeout continues with prices down 5.7% year-on-year from 5.1% in January. Prices fell in 69 of the 70 cities. Beijing prices fell 3.6% year-on-year from a 3.2% and Shanghai was down 4.7% from 4.2%.

This is certainly the deepest house price correction on record:

The month-on-month falls appear steady with little second derivative joy:

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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.