China home price growth slows in Aug to 13-month low

National Bureau of Statistics (NBS) data out with the latest Chinese home prices data on Monday, showed that the new home prices rose 8.3% in August versus a year ago, slowing from a 9.7% increase in July.

Meanwhile, average new home prices in China’s 70 major cities rose 0.2% in August from a month ago, slowing from an 0.4% gain in July.

Key Details via Reuters:

Beijing new home prices +5.2 pct y/y (July +8.9 pct) - for the m/m up unchanged

Shanghai new home prices +2.8 pct y/y (July +7.3 pct) - the m/m unchanged

Guangzhou new home prices +13.2 pct y/y (July +16.7 pct) - the m/m down 0.7%

Shenzhen new home prices -1.9 pct y/y (July +0.5 pct) - the m/m is down 0.4%

The data today's is the 9th in a row showing deceleration in prices

slowest rate of growth since July 2016 since