Chinese Housing Market Cooling

China home prices rose in fewer cities in July, adding to signs the property market is cooling.New-home prices, excluding government-subsidized housing, gained from the previous month in 56 of 70 cities tracked by the government, compared with 60 in June. the National Bureau of Statistics said on Friday. Prices fell in nine cities and were unchanged in five.Data earlier this week showed new home sales by value last month grew at the slowest pace in more than two years. Regulators have imposed a series of curbs on lending and property purchases to avert a bubble after prices jumped as much as 62 percent within a year in big cities such as Shenzhen.

Source: China Home Prices Rise in Fewer Cities as Market Cools – Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.