China home prices rise 6.2% in April, marking broadening recovery in property market

People walk on a bridge near the financial district of Pudong in Shanghai.
People walk on a bridge near the financial district of Pudong in Shanghai.PHOTO: REUTERS

BEIJING (REUTERS) - China's home prices rose 6.2 per cent in April, accelerating from the previous month's 4.9 per cent gain, an official survey showed on Wednesday (May 18), marking a broadening recovery in the country's housing market.

Compared with a month earlier, home prices last month rose 1.2 per cent, up from March's 1.1 per cent, according to Reuters calculations from data issued by the National Bureau of Statistics (NBS).

The southern cities of Shenzhen and Shanghai were still the two top performers, despite tightening housing measures introduced in late March, with home prices rising 62.4 per cent and 28 per cent, respectively, from a year ago.