China is unlikely to extend preferential policies aimed at supporting the housing sector during the financial crisis due to signs of a strong recovery in the real estate market, state media reported, citing the China Business newspaper. The government late last year introduced a number of favorable measures to boost a falling property market to bring more home buyers back to the market. The measures included a cutting of mortgage rates, a reduction of stamp duty on some home purchases and lowering down payment to 20% from 30%. The policies and rising demand caused price and sale hikes in China’s property market after February this year. Housing prices rose 2.8% in September from September last year in 70 large- and medium-sized cities.