China: March property prices, new home prices rise in 68 of 70 cities m/m (vs. 66 in February)

The AUD market will be paying attention to this release.

• Beijing March new home prices up 8.6% y/y
• Shanghai new home prices up 6.4% y/y

Overall +3.6% y/y (vs. +2.1% in February). Chinese authorities have expressed concerns about rising property prices, today’s release doesn’t appear like it will placate them. expect more talk of tighteninings. Not an AUD positive.