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- China June new home prices held back by curbs - private survey
China June new home prices held back by curbs - private survey
Reuters reports that according to data from China Index Academy, growth in China's new home prices remained largely steady in June, with momentum slowed by government curbs on rampant borrowing and caps on prices of housing projects in some cities.
New home prices in 100 cities rose 0.36% in June from a month earlier, up slightly from 0.34% growth in May.
Fewer cities reported monthly gains, with the number down to 77 in June from 80 in May, while 20 cities posted lower home prices compared with 17 in the preceding month.
Prices of resale homes grew 0.49% in June from the previous month, marginally slowing from May's 0.5% increase.
China implemented a raft of broad measures to rein in the red-hot property market this year, including caps on home prices set by developers.
Many banks in cities including Shanghai and Guangzhou also face tight quotas for mortgage lending as the central bank limits loans to the property sector, local media reported.
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