New home prices in March + 0.5% m/m
- February was +0.3%
- third consecutive monthly rise
For the y/y, -0.8%
- prior -1.2%
- 11th month of y/y falls
China's National Bureau of Statistics (NBS) surveyed 70 cities:
- 64 cities registered higher new home prices in monthly terms, the most since May 2019
- was 55 in February
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The data adds to the case for recovery, perhaps tentative at this stage, in the property sector.
Coming up from China today is this month's Medium-term Lending Facility (MLF) rollover/injection/rate setting:
