China: House prices expand at the fastest pace in six months in April
House prices in 70 large- and medium-sized cities increased 0.5% in April in month-on-month terms according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS). The print was up from the 0.1% increase in March and represented the strongest result since October 2019. According to the NBS, the sale price of newly constructed residential buildings increased in 50 of the 70 cities (38 in March).
House prices increased 5.1% annually in April, below the 5.3% rise in March and the lowest result in almost two years. Annual average growth in house prices fell from 8.1% in March to 7.7% in April.