House industry in China growing faster than expected, especially in Shenzhen

House industry in China well growth, Chinese new home prices continued to recover in January, rising 2.5% from a year earlier. This is a good signal

Houses industry increase, the fourth in a row and above the 1.6% pace registered in December, marked the fastest acceleration seen since July 2014.

There is 70 cities surveyed, the National Bureau of Statistics (NBS) reported that prices increased 25, especially in the southern metropolis of Shenzhen. One of the biggest city in China

House Prices in the city, home to what were once the frothiest of frothy stock markets, soared by 50.9% from 12 months earlier, an acceleration on the 46.8% pace seen in December.

Meanwhile, housing industry prices in Beijing – the nation's capital – rose by 10.3% while those in Shanghai – China's finance capital – jumped by 17.5%. Prices in Guangzhou rose by 9.9% and by 3.9% in Tianjin.

While prices in most smaller cities continued to decline, largely in response to the massive levels of unsold inventory at present, the NBS reported that over the year, price levels were unchanged.

According to Reuters, China's top leaders have made reducing excess housing stock a key priority in 2016.

Source: business insider, Beijing House industry, Guangzhou House industry