China home costs plunge even additional in August, down 2.5% y/y (prior -2.8%)

Chinese New House Prices -0.3% m/m in August

-2.5% y/y

Used home prices -0.58% m/m

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New home prices in first-tier cities -0.9% YoY in August

• prior -1.1%
• prices up in Shanghai, down in Beijing, Guangzhou, and Shenzhen

Second-hand home prices in first-tier cities -3.5% YoY in August

• prior -3.4%
• prices down in all of Shanghai, Beijing, Guangzhou, and Shenzhen

Second- and third-tier cities second-hand home prices -5.2% and -6.0% YoY respectively

• prior -5.6% and -6.4% respectively