NBS: China house prices rise sharply in September

China’s house prices jumped sharply higher in major cities during September, although it remains to be seen is whether the strong performance in home sales and prices have significant impact on the overall economy.

Key Details:

Sept Beijing new home prices +27.8 pct (not +4.9 pct) y/y (Aug +23.5 pct)

China Sept shanghai new home prices +32.7 pct (not +3.2 pct) y/y (Aug +31.2 pct)

All China Sept new home prices +11.2 pct (not +4.3 pct) y/y (Aug +9.2 pct) calculation

China Sept Shenzhen new home prices +34.1 pct y/y (Prev month +36.8 pct)

Following the data release, China NBS spokesperson noted that fast rise in property prices has been curbed, while adding that house transactions decreased in many cities first half of Oct.