FXStreet (Delhi) – Ned Rumpeltin, European Head of Currency Strategy at TD Securities, notes that the growth in house prices accelerated for mainland and is supporting the bets for the revival of housing sector of China.
Key Quotes
“China house prices rose in August in 35 of 70 cities monitored by the government, up from 31 in July while prices only dropped in 25 cities, less than the 29 in July.”
“The better results for Aug showed there was little impact from the yuan devaluation and the stock market rout. Demand is expected to be strong in Q3 after 5 interest rate cuts since Nov and a loosening of home purchase restrictions.”
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