China’s new home prices across 70 cities fell 3.3% year-on-year in June 2026, easing from a 3.5% decline in the previous month. While marking the 36th consecutive month of annual declines, the latest result was the mildest contraction since February, suggesting that existing policy measures are helping stabilise the property market, though demand and confidence remain subdued. Among major cities, prices declined in Beijing (-2.1%, unchanged from May), Guangzhou (-2.6% vs. -3.3%), Shenzhen (-3.6% vs. -4.5%), Chongqing (-4.2% vs. -4.7%), and Tianjin (-4.6% vs. -4.7%). Meanwhile, Shanghai remained the standout performer, with home prices rising 3.1%, only slightly slower than May's 3.2% increase. On a monthly basis, new home prices edged down 0.1%, after a 0.2% fall in May.