New home price growth continued to stabilise in February, the South China Morning Post reports, following the implementation of government policies to rein in any speculation or price bubbles in the market.
Average new home prices in China’s 70 largest cities rose 0.2% from January, compared with January’s 0.3% growth, according to data released by the National Bureau of Statistics on Monday. Year-on-year, prices rose 5.2%, from 5% in January.
44 of the 70 cities reported higher prices in February, down from 52 in January, contrasting with a steady price increase seen in China’s smaller cities.
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