April 16, 2020 / 1:47 AM / 4 months ago

China's March home prices up 0.1% m/m after stalling in Feb

BEIJING, April 16 (Reuters) - New home prices in China returned to growth in March after stalling in February, according to Reuters calculation, in a hopeful sign of a pick-up in the property market after the coronavirus health crisis halted economic activity.

Average new home prices in China’s 70 major cities rose 0.1% in March from the previous month, after staying unchanged in February, Reuters calculated based on official data on Thursday.

On a year-on-year basis, home prices grew 5.3% in March, compared with a 5.8% uptick in February.

China has in recent weeks lifted transport curbs and city lockdowns which had crippled business operations for developers and reduced customer visits to property showrooms, as the authorities gradually brought the pandemic under control.

The coronavirus outbreak has killed more than 3,300 people and infected over 82,000 in mainland China. (Reporting by Beijing newsroom; Editing by Jacqueline Wong)

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