All China new home prices +11.3% y/y
(Reuters calculation)
- All China March new home prices +0.6% m/m (prior +0.3%) - Reuters calc.
- All China March home prices excluding new homes +0.8% m/m (Reuters calculation)
Beijing new home prices +19% y/y (prior +22.1%), and Shanghai +16.8% y/y (February +21.1%)
- Beijing new home prices +0.4% m/m (unchanged in prior month), and Shanghai -0.1% m/m (February +0.2%)
Stats bureau says
- Daily new home transactions volume in Beijing fell after new property market tightening stopes in March
More:
- Home prices higher in the most cities since October
- New-home prices higher in 62 of the 70 cities (56 in February)
Chinese authorities are trying to curbs price gains in most first- and second-tier cities
- Also trying to clear the glut of unsold homes in smaller cities
- 64 cities have announced new or more strict property-buying restrictions
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Earlier from China today:
- China Q1 GDP better than expected, Barclays raise forecasts for rest of year
- PBOC sets USD/CNY reference rate for today at 6.8849 (vs. yesterday at 6.8785)
- China plans 2 million new units of public housing for 2017 - Xinhua
- China Q1 GDP 6.9% - "easy-money policies" & infrastructure spending created momentum
- A "very challenging task for the PBOC to reduce leverage without having any casualties"