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In February, China's new home price surge speeded down from January. It’s because a raft of government curbs aimed at taming speculative demand managed to soften prices in the country’s biggest cities. However, strength seen in smaller centers was still unchanged.
In China’s 70 key cities average new home prices tacked on 0.2% in February compared with a jump of 0.3% percent in January, according to Reuters' calculations from National Bureau of Statistics uncovered on Monday.
Compared with 2017, they soared 5.2% in the month, adding from January’s 5% soar.
In China’s major cities prices went down after they had stabilized in January, as the NBS revealed in a statement, which accompanies the report, without providing a specific figure.
As a matter of fact, Shenzhen's new home prices inched down 0.6% month-on-month, after in January they stabilized. Additionally, Beijing prices headed south 0.3% having posted a 0.2% jump in the previous month.
The majority of China’s 70 cities polled by the NBS informed that monthly price for new homes leapt. However, the number has gone down from January. Additionally, 44 cities posted higher prices in February, compared to January's 52 cities.
The dip in the four top-tier cities across China actually contrasts with a firm leap in prices in the country’s numerous smaller cities. For example, the fastest price gain was observed in Nanchong. In this city values of new homes tacked on 1.7% in February on-month.
Besides this, price surge in tier-3 cities was intact from January, as the NBS informed. Further details are unavailable.
Home price surge started speeding down in the second half of the previous year because the government tried to cope with bubbles in its property markets after nearly two years of rapid expansion.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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