China December new home prices rise rapidly, analysis shows By Reuters

BEIJING (Reuters) – China’s new home prices rose at the fastest pace in December, a private survey showed on Wednesday, as the crisis-hit property sector struggled to recover. the bottom line is a series of government policies that support it.

The average price of new homes across 100 cities rose 0.37% from a month earlier, compared with an increase of 0.36% in November, according to data from property researcher China Index Academy.

On a yearly basis, the average price rose by 2.68% in December, compared to a growth of 2.40% in the previous month.

Official housing price data will be released by China’s statistics agency on January 17.

Chinese policymakers in recent months scaled back their efforts to revive the sector, which collapsed in 2021 after a government-led crackdown on debtors left them they have a lot of money left.

Since September, measures aimed at encouraging home buying have included reduced mortgage rates and down payments, as well as tax incentives.