China: Growth in house prices inches up in March
House prices in 70 large- and medium-sized cities rose 0.6% in March in month-on-month terms according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). The print was up from February’s 0.5% increase, which had represented the lowest print in 10 months. According to the NBS, the sale prices of newly constructed residential buildings increased in 65 cities (57 in February).
House prices rose 10.6% annually in March, up from a 10.4% increase in February and the strongest print in nearly two years. Annual average growth in house prices increased from 7.3% in February to 7.8% in March.