China’s first-tier home prices extend 4-month rebound amid market stabilisation

New home prices in China's four first-tier cities experienced an average increase of 0.1% last month, marking a four-month rebound. This trend suggests a gradual recovery in market sentiment, attributed to the traction of housing stabilization measures. Specifically, Shanghai and Shenzhen saw a 0.3% rise in home prices compared to May, while Guangzhou increased by 0.2%. Beijing, however, experienced a 0.3% decrease. Nationwide, 20 out of 70 large and medium-sized cities recorded month-on-month price increases, the highest number since May of the previous year. These figures were released by the National Bureau of Statistics on Wednesday.