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Yuan Talks with the news:
New home sales in China’s major cities during the week-long National Day holidays were significantly lower than a year earlier despite that the authorities introduced a series of measures before the holiday to support the struggling housing market.
In China’s 21 major cities, new home sales by floor area declined by 37.7% year over year during the holidays which started from Oct. 1, slumping 47.6% from the average sales for the holiday in 2019 – 2021, according to China Index Academy, one of the largest private real estate research firms in China.
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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.
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