October 21, 2019 / 1:44 AM / a month ago

China's Sept home prices rise 0.5% m/m

BEIJING, Oct 21 (Reuters) - China’s new home prices rose 0.5% in September on the month, in line with August’s growth, and marked the 53rd straight month of gains, Reuters calculated from official National Bureau of Statistics (NBS) data on Monday.

On an annual basis, average new home prices in China’s 70 major cities rose 8.4% in September, down from 8.8% in August, and the slowest since September last year.

A cooling economy and curbs on speculative buying have put a dent on overall demand. Beijing has stepped up scrutiny of developers’ financing channels, and some local governments have also raised the bar for purchases, to damp speculation. (Reporting by Beijing Monitoring Desk; Editing by Sam Holmes and Clarence Fernandez)

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