According to official statistics, house prices in a survey of China's 70 biggest cities were up by 7.7% in December, compared to the previous year. In addition to this, on a national level, prices increased 1.6% YoY for the third month in a row. However, while the rise in prices in major cities in December was an improvement on November's 6.5 percent increase, there were sharp variations in the health of the property market in different parts of the country. While this increase in property prices could point to a road to recovery for Chinese property, growth failed to come from all areas, with a divide seen between bigger cities in coastal areas and their smaller inland counterparts. The Shanghai Composite Index (SCI) fell 0.4% at its lowest level since September last year, while Hong Kong's Hang Seng index (HSI) dropped 0.4%.
According to official statistics, house prices in a survey of China's 70 biggest cities were up by 7.7% in December, compared to the previous year. In addition to this, on a national level, prices increased 1.6% YoY for the third month in a row. While this increase in property prices could point to a road to recovery for Chinese property, growth failed to come from all areas, with a divide seen between bigger cities in coastal areas and their smaller inland counterparts. The Shanghai Composite Index (SCI) fell 0.4% at its lowest level since September last year, while Hong Kong's Hang Seng index (HSI) dropped 0.4%.