In December, Canada's housing market saw a sharp decline, with the national average dropping 18% from its peak, and Toronto experiencing a 20% decrease, where condo prices hit a two-year low. Calgary also witnessed a downturn in house prices. This trend is linked to the cessation of the Bank of Canada's easy money policies. In a parallel downturn, China's real estate market reported its steepest decline since 2015, with December home prices falling 0.45% month-on-month and new home prices down 0.4% year-on-year, exceeding the forecast and the previous month's 0.2% drop. The severity of the decline has led Chinese officials to bolster support for major cities to mitigate the property crisis. The real estate investment in China also contracted by 9.6% year-on-year for January to December, and shares of Chinese property developers are sliding in response to the latest data.
Shares of #Chinese #property developers are sliding across the board in HK after latest data showed China's new #home prices fell at fastest pace since Feb 2015 in Dec. China's real estate investment slid 9.6% in 2023, widening from the first 11 months. https://t.co/haGgRmRP6L https://t.co/0PWBGlGKZ7
China's Dec new home prices fall at fastest pace in nearly 9 years https://t.co/daYfcv2W4Y https://t.co/ZifzI1TtbJ
🔴 CHINA SEES A 9.6% YEAR ON YEAR DECLINE IN PROPERTY INVESTMENT FOR JANUARY TO DECEMBER.
China home prices fell the most in almost nine years in December, underscoring why officials are extending support to the biggest cities to end the property crisis https://t.co/RcMxff4iUE
Chinese real estate prices fall the most since 2015 $fxi China home prices fell the most in almost nine years in December, underscoring why officials are extending support to the biggest cities to end the property crisis. New-home prices in 70 cities, excluding state-subsidized…
🔴 CHINA'S NEW HOME PRICES IN DECEMBER FALL -0.4% MONTH ON MONTH (COMPARED TO NOVEMBER'S -0.3%): SOURCE CALCULATION.
*CHINA DEC. HOME PRICES FALL 0.45% M/M; DROP FASTER THAN NOV. It's like Beijing wants a revolution
🔴 CHINA HOME PRICES FALL 0.45% MONTH ON MONTH; DECLINE ACCELERATES FROM NOVEMBER
🔴 CHINESE NEW HOUSE PRICES YOY ACTUAL -0.4% (FORECAST -, PREVIOUS -0.2%) $MACRO
🔴 CHINA'S DECEMBER NEW HOME PRICES FALL 0.4% YEAR ON YEAR (VS. -0.2% PREVIOUS MONTH) - CALCULATIONS BY SOURCE
The Most Splendid Housing Bubbles in Canada: Nationally -18% in December from Peak, Toronto -20%. Even in Calgary, House Prices Dropped. End of Easy Money from the Bank of Canada. Condo prices in Toronto carve out two-year low, house prices a hair behind https://t.co/ipsfATesa0 https://t.co/I2pvOtJxfl