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New home prices in October dropped 0.3% month-on-month after a 0.2% dip in September, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Once a key engine of economic growth accounting for around a quarter of China's economic activity, a regulatory crackdown since 2020 to curb debt has tightened liquidity and raised default risks for developers, delaying many projects. Out of 70 cities, 56 reported declines in monthly prices last month, marking the most cities number since October 2020, up from 54 in September. TWIST AND TURNSHouse prices in three major cities Beijing, Shenzhen and Guangzhou all fell month-on-month in October. For existing home, NBS data showed 67 cities posted month-on-month price declines in October, up from 65 in September.

Persons: Ma Hong, Ma, Liu Aihua, Zhang Dawei, Zhang, Liangping Gao, Ella Cao, Ryan Woo, Jacqueline Wong Organizations: National Bureau of Statistics, Authorities, Zhixin Investment Research Institute, Nomura, HK, Thomson Locations: BEIJING, Beijing, Shenzhen, Guangzhou

☆ China's home prices rise at slower pace as demand ebbs
▼ + stars: | 2023-05-17 | by ( ) www.reuters.com time to read: +3 min

Summary April new home prices +0.4% m/m vs +0.5% m/m in MarchApril prices -0.2% y/y vs -0.8% y/y in MarchMore policy stimulus may be needed, analysts sayBEIJING, May 17 (Reuters) - China's new home prices rose for the fourth straight month in April but at a slower pace, heightening fears that pent-up demand after the country's economic reopening is fading. New home prices in April rose 0.4% month-on-month versus a 0.5% gain in March, according to Reuters calculations based on National Bureau of Statistics (NBS) data on Wednesday. Beijing's aggressive stimulus policies to the crisis-hit property sector since November have boosted sentiment over the past few months but homebuyers are increasingly worried about job security. Home prices in tier-two and three cities also rose at a slower pace in April. April money and credit data last week suggested growth of households' medium-to-long term loans, mostly mortgages, decelerated in April, in line with slower property transactions.

☆ Chinese property brokers need to reduce fees, regulator says
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +1 min

BEIJING, May 8 (Reuters) - Chinese real estate brokerage agencies need to implement reasonable reductions to fees for housing transactions and leasing services to promote healthy development of the sector, the housing regulator said on Monday. Some real estate brokers in recent years "have charged excessive, unclear and bound fees, and misused clients' personal information, which has increased the burden on parties to transactions and infringed their legal rights", the regulator said in a notice. Real estate brokers must not abuse a dominant market position to charge unfairly high prices for broking services. The industry has grown increasingly important, with large numbers of property transactions relying on real estate agencies, said analyst Zhang Dawei at property company Centaline, adding that some agents are taking advantage of their scale to increase fees. However, it is a guiding document; the specific impact on the market will depend on implementation by each city," Zhang said.

☆ China's Dec home prices fall, more supportive policies likely
▼ + stars: | 2023-01-16 | by ( ) www.reuters.com time to read: +3 min

Analysts say the property sector is showing signs of recovery, but it remains uneven and more supportive policies are needed to revive sentiment in the battered market. From a year earlier, prices fell for the eighth month in a row, dropping 1.5% from a 1.6% slump in November. Prices in tier-one cities remained unchanged from a month earlier in December from a decline of 0.2% in November. To relax restrictions on borrowing for property developers, regulators will improve the "three red lines" rule for 30 pilot firms, state media Xinhua reported last week. The policy restricts the amount of new borrowing property developers can raise each year by placing caps on their debt ratios.

REUTERS/Tingshu WangSummary Sept new home prices fall 0.2% m/m, down for second monthNew home prices down 1.5% y/y, fastest pace since Aug 201554 cities out of 70 report price declinesBEIJING, Oct 24 (Reuters) - China's September new home prices fell for the second straight month as mortgage boycotts, a heightened debt crisis and COVID-19 curbs weighed on homebuyers' sentiment. China's property sector has been beset by multiple headwinds after regulators clamped down on excessive borrowing since mid-2020. In monthly terms, new home prices in tier-two cities fell 0.2% and declined 0.4% in tier-three cities. Property investment fell 12.1% from a year earlier, slightly narrowing from a 13.8% fall in August. "There is little room to give more help to real estate property developers as doing so will risk the credibility of government reform (for property developers, that means the deleveraging reform)," said Iris Pang, chief economist for Greater China at ING.

☆ China new home prices fall for second month in September
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Tingshu WangSummary Sept new home prices fall 0.2% m/m, down for second monthNew home prices down 1.5% y/y, fastest pace since Aug 201554 cities out of 70 report price declinesBEIJING, Oct 24 (Reuters) - China's new home prices fell for the second straight month in September, as its property sector grappled with a mortgage boycott, a heightened debt crisis and COVID-19 restrictions that dimmed the economic outlook. China's property sector has been beset by multiple headwinds after regulators clamped down on excessive borrowing since mid-2020. Property investment fell 12.1% from a year earlier, slightly narrowing from a 13.8% fall in August. China reiterated its "housing is for living, but not for speculation" in the full work report of the Communist Party Congress. Analysts from Nomura said in a note that a comprehensive solution to the property sector might not be introduced until after March 2023, when Beijing's political reshuffle is fully completed.

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