It’s been two weeks since Chinese regulators announced a major easing of property controls and so far there hasn’t been a meaningful turnaround in new home sales at the national level. But many cities have only just started to take full advantage of the change in national rules. For those that did move fastest there are some tentative signs of an improvement. We remain hopeful that the benefits of the recent easing will become more widespread and apparent in the data over the coming weeks and months.
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