Property growth expands in August
China’s housing sector saw growth accelerate in August, as more local governments rolled out tightening measures to curb speculation.
Of 70 large- and mediumsized cities surveyed in August, 64 reported new home price increases month-on-month, up from 51 in July and 55 in June, the National Bureau of Statistics (NBS) said.
Home prices grew faster across the board in both monthon-month and year-on-year terms, said the NBS.
Economically strong areas reported drastic price rises, and less developed areas still reported huge inventories of unsold houses.
The contrasting picture has prompted local authorities to take different approaches: first-tier cities have tightened policies to curb speculative purchases and contain bubble risks, while third- and fourth-tier cities are exploring new ways to spur sales.