China’s housing prices rose at the fastest pace in ten months in July as official data pointed to a rebound in price growth for some top-tier cities including Beijing and Guangzhou.
New home prices rose 5.8 per cent year on year last month, according to a weighted average from Reuters based on data from the National Bureau of Statistics.
That marked a nearly one percentage point gain from a year-on-year rise of 5 per cent in June and the fastest growth since September 2017, as well as the sharpest month-to-month acceleration since October 2016.
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