Chinese house prices continued to rise in December, according to China’s National Bureau of Statistics, as the property market looks more attractive amid shaky stock markets. New home prices in 70 large cities rose by an average of 1.6 per cent year-on-year in December, according to calculations by Reuters. They had risen 0.9 per cent year-on-year in November.
Prices rose in 39 of the 70 cities, on a monthly basis, compared to 33 cities a month before.
House prices in China have generally been in deflationary territory over the past year, but gyrations in the equity market has helped fuel a return to property. Prices have now been rising for three straight months.
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