A property project under construction in Dalian, Liaoning province. LIU DEBIN/FOR CHINA DAILY

　　While China's housing market has shown tentative recovery signals, a sustained rebound still hinges on continued policy easing, analysts and policy advisers said, with further scope remaining for interest rate reductions and purchase restriction removals.

　　Their comments come as the sector is closely watching policymakers' property market policy stances, as improving property market data have reignited debate over whether China's five-year-long housing market correction is approaching a turning point.

　　Zhang Yu, managing director and chief real estate analyst at China International Capital Corp, said the recent pickup in home sales in Beijing and Shanghai reflects improving supply-demand dynamics.

　　"In Beijing and Shanghai, listings in the existing home market have begun to decline while transaction volumes have stabilized, suggesting a shortening absorption cycle — a key indicator of how quickly available housing inventory can be cleared — and offering positive signals of market stabilization," Zhang said.

　　The National Bureau of Statistics said secondhand home prices in China's first-tier cities — Beijing and Shanghai, as well as Guangzhou and Shenzhen in Guangdong province — climbed 0.4 percent in March on a monthly basis, reversing a 0.1 percent decline in February.

　　In Beijing, secondhand home prices rose 0.6 percent in March, while Shanghai saw a 0.4 percent increase. Home prices and transaction volumes in these two cities are closely followed by market observers as a barometer of the broader property market.