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China’s April home prices soar at breakneck pace, putting onus on authorities to keep housing affordability in sight

Summary:
[unable to retrieve full-text content]China’s home prices soared at the fastest rate in eight months to the highest level in five and half years, as buyers defied the government’s cooling measures to deflate the property bubble.The average price of new homes across 70 major cities rose 4.8 per cent in April, from a year ago, according to the National Bureau of Statistics (NBS). Prices increased in 62 of the 70 cities tracked by the NBS, led by soaring listings in Chongqing, a megapolis of 30 million people.Surging prices at the…

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[unable to retrieve full-text content]
China’s home prices soared at the fastest rate in eight months to the highest level in five and half years, as buyers defied the government’s cooling measures to deflate the property bubble.The average price of new homes across 70 major cities rose 4.8 per cent in April, from a year ago, according to the National Bureau of Statistics (NBS). Prices increased in 62 of the 70 cities tracked by the NBS, led by soaring listings in Chongqing, a megapolis of 30 million people.Surging prices at the…

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