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"