China home prices to pick up, but outlook remains soft
Beijing
CHINA'S home prices are expected to grow slightly faster this year than predicted a few months earlier while sales will stay soft, as Beijing refrains from strong easing to cushion the coronavirus-led slowdown in the sector, a Reuters poll showed.
The property market has shown some signs of recovery, helped by cheaper credit and incremental policy easing as the Chinese economy emerges from its novel coronavirus lockdown.
But still, weak consumer confidence and fears of a second wave of virus infections may dampen chances for a sustainable rebound.
Average residential property prices are estimated to rise 3.75 per cent in 2020, said 13 analysts and economists surveyed from June 15-19.
The forecast was firmer than a 3.25 per cent gain tipped in a February survey, but down from 6.6 per cent growth in 2019. Home prices are seen slowing to 3 per cent in the first half of 2021.