China March home prices rise 0.6% m-o-m, 11.3% y-o-y

[BEIJING] Average new home prices in China's 70 major cities rose 0.6 per cent in March from the previous month, higher than the February's reading of 0.3 per cent, according to Reuters calculations based on an official survey on Tuesday.

Compared with a year ago, new home prices rose 11.3 per cent, decelerating from February's 11.8 per cent gain, according to data issued by the National Bureau of Statistics (NBS).

In China's biggest cities, prices for new units in Beijing rose for the first time since October 2016 on a monthly basis. It rose 19 per cent from a year ago.

In Shenzhen and Shanghai, prices for new units rose 9.1 per cent and 16.8 per cent, respectively, from a year earlier, but Shanghai's fell on a monthly pace as local governments'tightening measures continued to take the heat off the market.

REUTERS