Chinese house prices were out yesterday and showed a sudden acceleration, up 0.5% on the month and 5.3% on year:
The breadth of price rises expanded to 54 cities:
Top tiers lagged:
Here’s the raw data:
It’s a little odd given sales remain shite:
But that’s the rub in China. Monetary easing always ends up in property owing to a dearth of anything else to buy.
And with trade and the consumer stuffed, what else can China do to grow?
There’s more money and price rises coming.