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China's new home price growth hits two-year high as small cities boom

Tier-3 cities collectively posted a robust month-on-month price increase of 1.5% for new homes which was more than double their 0.7% price gain in June

Reuters  |  Beijing 

China's new home prices accelerated at their fastest pace in almost two years in July, led by smaller cities and highlighting challenges policymakers face in stimulating a slowing economy without fueling a property bubble. Average new home prices in China's 70 major cities rose 1.1 per cent in July from a month earlier, according to Reuters calculations based on an official survey on Wednesday, the fastest pace since October 2016 and up from the previous month's reading of 1 per cent. Outside the recent boom periods of 2016 and early 2013, monthly price gains of more ...

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First Published: Wed, August 15 2018. 11:15 IST