China's home prices posted their fastest growth in two years in April, with gains also seen in regional centers, indicating a broader recovery in the country's housing market beyond the major cities.
Average new home prices in 70 cities climbed 6.2 percent in April from a year ago, up from March's 4.9 percent rise, according to Reuters calculations based on data released by the National Statistics Bureau (NBS) on Wednesday.
That was the quickest year-on-year increase since April 2014, while 46 of 70 major cities tracked by the NBS saw annual price gains, increasing from 40 in March.
"(Price) growth in first and second-tier cities continued to accelerate, while third-tier cities reversed decline to post growth," Liu Jianwei, a senior statistician at the NBS, said in a statement accompanying the data.
Top-tier cities Shenzhen and Shanghai were still the two top performers, with home prices rising 62.4 percent and 28 percent from a year ago, respectively. This was despite tightening housing measures introduced in both cities in late March. The paces compare to 61.6 percent and 25 percent in March.