MNI DATA IMPACT: China Mar Home Prices Accelerate; +11.3% Y/Y

     BEIJING (MNI) - Residential property prices in 70 large and medium sized

Chinese cities grew faster in March, according to data released by China's

National Bureau of Statistics (NBS) on Friday.

     --The average price of new homes in 70 major cities, excluding subsidized

units, increased 11.3% y/y in March, the fastest gain in 23 months. This

compares with an 11.1% gain in February, according to MNI calculations. On a m/m

basis, the average price was up 0.6% in March, higher than gains of 0.5% in

February.  

     --The number of cities reporting housing price increases on both a yearly

and monthly basis in March -- was 65 out of 70 cities m/m (57 in Feb) and all 70

y/y (69 in Feb). 

     Table: China Residential Property Prices - No. of cities where prices are

rising/falling

No. Cities Rising/Falling                 Mar  Feb  Jan  Dec  Nov  Oct  Sep  Aug

--------------------------------------------------------------------------------

70-Large and medium Cities M/M      Rise   65   57   58   59   63   65   64   67

                                    Fall    4    9    8    8    5    4    3    1

                                Net Rise   61   48   50   51   58   61   61   66

70-Large and medium Cities Y/Y      Rise   70   69   68   69   68   67   67   68

                                    Fall    0    0    2    1    2    3    2    2

                                Net Rise   70   69   66   68   66   64   65   66

     Source: MNI - MNI Calculation based on NBS data 

     --Prices of established homes, a better gauge of property market activity,

were rising in three out of four tier-1 cities month-on-month, and in most

tier-2 (23 out of 31)and tier-3 cities (31 out of 35), reflecting rising demand

in medium and small sized cities.

     --New-home prices in Dandong, a small tier-3 city in northeast China and

near the China-North Korea border, registered the fastest monthly gain at 1.9%.

On a y/y basis, Xi'an, the capital of northwest Shaanxi province, recorded the

best gain for a fourth month at 24.4%.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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