China's new home prices rose in July as the property sector held up as one ...
BEIJING - China’s new home prices rose in July as the property sector held up as one of the few bright spots in the slowing economy, although momentum flagged in some markets as persistent curbs hit speculative investment.
The majority of the 70 cities surveyed by the NBS still reported a monthly price increase for new homes, although the number of cities fell to 60 in July from 63 cities in June. On a year-on-year basis, home prices rose at their weakest pace this year in July by 9.7%, slowing from a 10.3% gain in June.
Mortgage rates have also been coming down in some areas in response to regulators’ calls on banks to ramp up lending to support the economy.
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