China: Housing market gains further steam in April
May 17, 2021
House prices in 70 large- and medium-sized cities increased 0.6% 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 above March’s 0.5% reading.
House prices increased 4.8% annually in April, up from March’s 4.6% reading. Annual average growth in house prices was stable at 4.5%.
Looking ahead, the housing market could lose some momentum later this year due to the impact of recent government measures to limit financial risks, including limits on property loans. However, the stronger domestic economy should provide some support.
Author: Oliver Reynolds, Economist