On a year-on-year basis, the average prices for new homes rose faster at 2.56 per cent, versus 2.50 per cent in April.
China’s statistics bureau will release the official data for home prices on Jun 16.
The market continued to see a persistently high volume of listings for second-hand residential units, keeping prices lower in that segment, it said.
Prices of second-hand properties fell 0.71 per cent from a month ago, and 7.24 per cent year-on-year. That compared with April’s declines of 0.69 per cent and 7.23 per cent, respectively.
The property market, accounting for roughly a quarter of economic activity at its peak, is where some 70 per cent of China’s household wealth is invested.
Any signs of relief could help cushion China’s economy from the stresses of a yet-unresolved trade war with the United States.
