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HomeBusinessChina's September Survey Reveals New Home Prices Rebounding, Ending Four-Month Fall.

China’s September Survey Reveals New Home Prices Rebounding, Ending Four-Month Fall.

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The latest data shows that China’s new home prices have experienced a slight increase in September after four consecutive months of decline. According to the China Index Academy, new home prices rose by 0.05% on average from the previous month. Out of the 100 cities surveyed, only 30 reported a decrease in prices. This uptick in prices is attributed to developers launching new, higher quality housing projects.

However, confidence in the property sector has been low since Beijing implemented measures to curb debt accumulation by developers, leading to a debt crisis. The problems in the sector have had a negative impact on China’s economy and global financial markets. To boost the property market, the Chinese government has introduced several supportive measures in recent weeks, including easing borrowing rules and relaxing home purchasing restrictions in certain cities.

While major cities like Beijing have seen a small improvement in new home sales due to these policies, there are concerns that this improvement may be short-lived and could dampen demand in smaller cities. The report suggests that if these policies continue to be optimized, first-tier cities are likely to stabilize this quarter, but recovery in smaller cities may take longer. The property market’s performance will have significant implications for China’s overall economic activity as it accounts for one-fourth of the country’s economic activity.

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