(link in Chinese). Data from the Chinese National Bureau of Statistics show that new-home prices rose by 0.1% in October from a year earlier, reversing a 14 month decline. Despite sharp increases in 16 cities, including Shanghai and Shenzhen, 54 other cities experienced a decrease in prices, indicating that the wider trend of oversupply and underdemand remains. The average price for new homes fell to 6.976m yuan ($8.6m) last month, down 0.9% on September 2016.
Data from the Chinese National Bureau of Statistics show that new-home prices rose by 0.1% in October from a year earlier, reversing a 14 month decline. Despite sharp increases in 16 cities, including Shanghai and Shenzhen, 54 other cities experienced a decrease in prices, indicating that the wider trend of oversupply and underdemand remains. The average price for new homes fell to 6.976m yuan ($8.6m) last month, down 0.9% on September 2016.