China New Home Price Decline Slows to One-Year Low
New home prices in China fell by 0.1% in April marking the slowest monthly decline since last year as tier-one cities saw marginal gains. While local support measures offer early signs of stabilization analysts warn that oversupply may delay a full market recovery for another two years.
China new home prices fell 0.1% in April, the slowest monthly decline in a year. This follows a 0.2% drop in March as local governments expanded support measures to stabilize the property sector. The prolonged downturn in home prices has weighed on domestic consumption and eroded household wealth, making stabilization a critical priority for policymakers.
### Tier-One Cities Lead Recovery The property market showed signs of divergence in April, with major metropolitan areas outperforming the national average. New home prices in tier-one cities like Shenzhen and Shanghai rose 0.1% month-on-month, while tier-two and tier-three cities fell 0.1% and 0.3% respectively. National Bureau of Statistics data showed 49 cities reported monthly price declines, down from 54 in March.
