New home prices in China +0.4% m/m in April (prior was +0.44%)
- and -0.2% y/y (prior -0.8%)
62 of 70 cities recorded higher prices m/m and 22 y/y
- prior 64 and 18 respectively
For non-new homes, 36 cities saw prices rise
- prior 57
-
The property sector is a key driver of economic growth, the m/m gain will be welcomed in China.
