China’s new house prices accelerated in October

China's new house prices for October indicate a signs of stabilization. A robust grow rate is noticed in the bigger Tier 1 cities. This is the result of multiple rounds of easing measures over the past few months like the cutting down the benchmark rates and reduction of down-payments for houses. On a year on year basis, new house prices posted a significant growth rate in 16 cities in compare to 12 in September. 

"China does not release a nationwide price index but we estimate that October's new house prices declined at a slower pace of -1.1% vs -2% in September", estimates Commerzbank. 

The new house prices in Tier 1 cities accelerated further by 13.4% in October against 11.5% in previous month, whereas prices reduced marginally in Tier 2 and Tier 3 cities .