New home prices in China continued to fall for the seventh consecutive month in March, as loose government policies failed to revive the overly cold market.
Average new home prices in 70 major cities fell 0.07% in March, and were lower (down) from -0.13% in February.
In 29 of the 70 cities, monthly house prices rose in March, compared with 27 in February.
Housing prices in the first category cities, which include the four most economically strong cities in the country, increased by 0.3% in March compared to the increase of 0.5% in February.
On an annual basis, China’s average new home prices rose 0.66% in March, up from 1.15% in February.
Fewer cities, meanwhile, reported an increase on an annual basis.
In March, new home prices rose in 40 of the 70 cities compared to 2021, up from 46 in February.
Source: Capital
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