Some mixed data on existing home sales shows a general cooling trend. After five weeks of falling sales, Beijing existing homes sales fell off a cliff in the week of June 6 to June 12. Sales fell 61.2% to the lowest level in 2016 (1887 homes). HomeLink points out their data shows a 17.9 percent increase though, adjusting for the Dragon Boat Festival holiday. However, there's evidence elsewhere of cooling, with brokers at 我爱我家 reporting they have lots more leisure time due to a drop off in customer traffic. Another anedcdote is a property in Zaojun Dongli, near the northwest corner inside the third ring, selling for 4 million yuan. Only a month ago, a similar property in the area sold for 4.7 million yuan. The agent says everyone who wants to buy has pretty much bought, so the immediate demand is exhausted. In Fangzhuang, southeast between the second and third ring, there are home prices being cut between 50,000 yuan and 300,000 yuan.
iFeng: 北京二手房成交进入下行通道 有房源降5-30万
Aussie CPI inflation shocks economists
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The Australian Bureau of Statistics (ABS) has released the consumer price
index (CPI) for the March quarter, which recorded a headline inflation rate
of ...
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