Housing rally stalls in July as mainland Chinese tax risks curb demand, analysts say, raising doubts over market’s near-term outlook
The index tracking second-hand homes slipped to 321.5 in July from 323 in June, Rating and Valuation Department (RVD) data showed on Thursday.
It was the first decline in 16 months – since April last year. Prices were flat in May last year before climbing steadily for 13 months from June.
Since the trough in March last year, when prices had lost more than 28 per cent from their September 2021 peak, the index had recovered 13.37 per cent by June, data showed.
