China new home price data for April, up 0.42% m/m (from +0.13% in March)

China housing market, prices relatively stable, up a little more quickly than in March m/m.

• For the y/y result up +5.2% y/y in April against the +5.4% in March

New home prices rise in 50 cities m/m vs 38 in March

• New home prices rise in 63 cities y/y vs 63 in March

The housing market is a key driver of consumption in China, if its doing well the consumer is doing well. It appears its (very) slowly recovering.