Housing prices rise for 14th straight month, survey shows

An early survey of new apartment prices in July showed government efforts to cool the market were failing, Caijing reported. House prices rose for the 14th straight month last month, according to data from the China Real Estate Index System. Prices for new apartments in the ten biggest cities rose 10.72% from a year ago. Prices of newly-built houses climbed at an average pace of 8.81% in the 10 monitored cities, led by Beijing which saw an increase of 17.05%. Property developers are again picking up momentum in land purchases and money raising.