China’s new home prices extend 35-month winning streak in March

China’s National Bureau of Statistics (NBS) published the latest Chinese new home prices data for the month March, showing a 35-month straight rise, as the government stepped up efforts to support demand from first-time buyers and upgraders.

Key Details:

“Average new home prices in China’s 70 major cities rose 0.4 percent in March from the previous month, up from a 0.2 percent growth in February.

On a yearly basis, new home prices increased 4.9 percent in March, slowing from February’s 5.2 percent increase, partly due to a high base effect as policymakers rushed to impose a flurry of fresh tightening measures in late March last year.”