China: Increase in house prices hits an all-time high in April
May 18, 2016
House prices in 70 large- and medium-sized cities rose 1.2% 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). The print overshot the 1.1% increase tallied in the previous month and marked the highest reading since records began in January 2011. According to the NBS, the sale prices of newly-constructed residential buildings declined in five cities and increased in 65 cities.
Compared to the same month of the previous year, house prices jumped 6.2% in April. The print came in well above the 4.9% increase tallied in March and thereby marked the highest level in two years. As a result of the continued upward trend in prices that has been observed since May 2015, annual average variation in house prices in April swung from minus 0.8% in March to plus 0.2%.