China: House prices in April mark best result in one year
May 18, 2015
House prices in 70 large- and medium-sized cities was flat in April over the previous month, according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS). April’s reading was above the 0.1% decline recorded in the previous month and marked the best result since April 2014. According to the NBS, the sales prices of newly-constructed residential buildings declined in 48 cities, increased in 18 cities and that of 4 cities remained flat.
On an annual basis, house prices declined 6.1%, which was in line with the result tallied in March and, thereby, remained at the lowest point since the current data series began in 2011. As a result of the continued downward trend in prices, annual average variation in house prices fell from minus 0.8% in March to minus 1.8% in April.