China house prices continue to rise

FXStreet Team FXStreet

FXstreet.com (Barcelona) - China new home prices rose +3.6% on a yearly basis in March vs +2.1% in February, with the Chinese Home Prices up in 68 of 70 cities surveyed. The government is likely to take further action to cool down what is understood to be an ongoing bubble in the housing sector.

The historic chart shows that after China managed to cool down prices a bit mid-2012, the upward tendencies have returned, a very concerning situation for the government. According to David Scutt, Treasury Dealer at Arab Bank Australia: "China house price data should send shudders through markets already concerned about global growth. The govt will take action."

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