China‘s housing market experienced a fourth consecutive month of growth in April, albeit at a slightly reduced pace, as the government‘s efforts to stabilise the sector continue to boost sentiment following the country’s rapid recovery from Covid-19 restrictions. New home prices in April increased by 0.4% month-on-month, compared to a 0.5% rise in March, based on Reuters calculations using data from the National Bureau of Statistics (NBS).
However, the slower rate of home price growth in April, along with recent data indicating a significant drop in property investment and sales, raises concerns about the robustness of the sector’s recovery, which is vital to the overall health of China’s economy. Year-on-year, prices decreased by 0.2%, marking the 12th consecutive month of decline in annual terms. In comparison, prices fell by 0.8% in March.
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