China Home Price Decline Deepens to 3% as Property Woes Persist
China's new home prices fell 3% YoY in December 2025, according to NBS data. The decline across 70 cities highlights ongoing challenges for the Chinese economy.
A 3% year-on-year slide marks a grim milestone. China's mainland property market is struggling to find a bottom, casting a shadow over the nation's 2026 economic outlook.
Analyzing the China Home Price Decline in December 2025
According to data released by the National Bureau of Statistics (NBS) on January 19, 2026, new home prices across 70 major cities fell by an average of 0.4% month-on-month in December. This matched the drop seen in November and ranks among the sharpest declines recorded in over a year.
On an annual basis, the price slip accelerated to 3% in December, widening from the 2.8% decrease reported in the previous month. The persistent downturn highlights the immense pressure on China's economy as it attempts to transition away from its heavy reliance on real estate.
The Search for New Growth Engines
The NBS data suggests that Beijing's support measures haven't yet stabilized the market. With property accounting for a significant portion of household wealth, the continued price erosion is likely to further dampen consumer spending and investor confidence.
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