China Housing March 2016

China

China: Property sector continues to gain momentum in March

April 18, 2016

House prices in 70 large- and medium-sized cities rose 1.1% in March 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 0.6% increase tallied in the previous month and marked a three-year high. According to the NBS, the sale prices of newly-constructed residential buildings declined in eight cities and increased in 62 cities. March data are consistent with the improvement seen in the real estate market at the outset of the year.

Compared to the same month of the previous year, house prices jumped 4.9% in March. The print came in well above the 3.6% increase tallied in February and thereby marked the highest level in nearly 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 March rose from minus 1.8% in February to minus 0.8%.


Author: Ricard Torné, Head of Economic Research

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China House Prices March 2016

Note: Month-on-month changes of the price index of newly constructed residential buildings in 70 large and medium cities and year-on-year variation in %. The index is calculated as a weighted average based on the population of the 70 cities.
Source: National Bureau of Statistics of China (NBS) and Thomson Reuters.


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