Chinese Home Prices Continue to Grow for 48th Consecutive Month

New home prices across 70 major Chinese cities registered a 0.6% rise on average during April.

home prices

There may be uncertainty for the Chinese economy up ahead because of the trade war with the US, but new home prices have been on the rise even in April. According to data released by the National Bureau of Statistics (NBS), new home prices across 70 major Chinese cities registered a 0.6% rise on average during April.

The pace of growth was similar to that in March, making it the 48th consecutive month where home prices have continued to grow. The annual growth of home prices in April touched 10.7%, up from 10.6% in March.

This comes on the back of the Chinese government’s stimulus for boosting economic activity over weakening data in recent times. In addition, rising demand for housing, easier access to credit and some relaxation of purchase restrictions by local governments have also contributed to increasing home prices.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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