China April home price data: New home prices +0.6% m/m and +10.7% y/y
House price data from China for April 2019
- prior +0.6% also
+ 10.7% y/y
- prior +10.6% y/y
These are the Reuters calculations from National Bureau of Statistics (NBS) data
published on Thursday. Average new home prices in China's 70 major cities increased .
Property has gotten a boost in China with some local governments loosening restrictions on home purchases as part of efforts to stimulate economic activity. Central government has also called for banks to increase up lending & cut interest rates
Property market strengthening should provide some support for China's economy even as sectors such as manufacturing are hit by the trade war.