On China's Home Sale Transactions, Data Diverged
Total residential property sales transactions in Beijing fell 50% year on year in the month of July, latest data from local government research agency showed. Home prices in Beijing fell for the first time in more than two years in June, release by the National Bureau of Statistics (NBS) showed.
In the city of Shanghai, total new home sales transactions in the first seven months this year deceased 56% from same time period last year, according to government housing committee data on August 2.
Southern city of Shenzhen, total property transactions have been falling for ten consecutive months. Total transactions shrank 30% year on year in the month of July, according to latest data from government land resources department.
On the other hand, the national data agency NBS data says price growth in Shanghai and Beijing slowed to 8.6% and 10.7% in June from a year earlier, the national data agency said. From a month earlier, prices in Beijing fell 0.4%, marking the first fall since February 2015. Shanghai prices slipped 0.2%, the national data bureau said. The monthly national housing data overview released by the NBS of China does not specify sales transaction numbers in each city.
*Original data are taken from Chinese archive