New home prices in China grew at a steady pace in September, with fewer cities r...
BEIJING - New home prices in China grew at a steady pace in September, with fewer cities reporting price gains, a relief for policymakers who remain wary of high debt and bubble risk and are refraining from stimulating the sector as the economy cools.
Home prices in September rose 8.4% from a year earlier, slowing from an 8.8% gain in August, and the slowest since September last year. Slower price gains are partly due to developers cutting prices to attract buyers in September just ahead of the week-long National Day holiday, a peak sales season, said Yan Yuejin, director of the Shanghai-based E-house China Research and Development Institution.
As local governments are given more autonomy in policymaking, price trends have been mixed, with some cities showing signs of rapid cooling while others are still plagued with overheating risks.
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