Average new home prices in China's 70 major cities rose 7.9 percent in July y/y

  • prior was a 7.3 percent increase in June

More:

Home prices in Shenzhen +40.9% y/y leading the way.

In Xiamen, close behind at +39.2% y/y

New-home prices excluding government-subsidized housing gained in 51 cities (of the 70 tracked) last month (55 in June)

Prices down in 16 cities (10 in June)

No change in 3

(Let me just pull out the abacus .... 51+16+3=0 .... yep all good)

  • Says Bloomberg:
    A surge in home prices showed signs of slowing
  • Tightening measures have spread from larger hubs such as Shanghai and Shenzhen in a bid to tackle overheated home markets that have been buoyed by stimulus measures rolled out since November 2014
  • Nanjing, Jiangsu's provincial capital, and Suzhou, a regional manufacturing base, last week raised down-payment requirements for some buyers of second residences, adding to restrictions introduced in Xiamen, a southern port city in Fujian province, and Hefei, the provincial capital of Anhui.
  • "The recent policy tightening could curb rapid home-price growth,'' David Yang, a Shanghai-based analyst at UOB Kay Hian Investment Co, said before the data release. "Local polices will see further divergence as surging home prices and land costs trigger more tightening rules."