China: Housing market gains further steam in March
April 16, 2021
House prices in 70 large- and medium-sized cities increased 0.5% in March 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 February’s 0.4% reading.
House prices increased 4.6% annually in March, up from February’s 4.3% rise. Annual average growth in house prices fell from 4.6% in February to 4.5% in March.
Looking ahead, the housing market—particularly in smaller, less desirable cities—is likely to 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