China’s average house prices increased in December, marking the end of eight consecutive months of year-on-year declines, The Wall Street Journal reported. The increase was a sign that the nation’s property market is rebounding from a prolonged slump. A poll of real estate firms and housing developers revealed that the average price of property in 100 Chinese towns increased by a slight 0.03% in December year-on-year, according to researcher China Real Estate Index System on Friday. The rise indicated a surprisingly robust demand for property in a season when the cold weather typically dampens buyers’ enthusiasm for purchasing housing, analysts said. The increase comes after three years of government measures to reign in property price increases, measures that reflect Beijing’s awareness of the social and political consequences of unaffordable housing. “Perhaps policy makers are now more comfortable with moderate increases in housing prices,” said Johnson Hu, an analyst at CIMB Securities.
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