China: House prices accelerate to four-month high in March

House prices in 70 large- and medium-sized Chinese cities rose 0.6% in March from the previous month, according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). The print was above the 0.3% increase observed in the previous month and marked a four-month high. According to the NBS, the sale price of newly-constructed residential buildings increased in 62 cities (56 in February) and declined in 8 cities.

House prices rose 11.3% annually in March, which was below February’s 11.8% increase. Annual average growth in house prices rose from 9.6% in February to a new record high of 10.1% in March.