Home price growth in China decelerated in September from a year earlier, due to tightening requirements for mortgage lending and restrictions in the housing market, which were introduced in a number of major cities in China.
According to the National Bureau of Statistics of the People's Republic of China (NBS), the average price of new homes in the country grew by 6.5% on a yearly basis following an 8.2% increase in August.
Month-on-month, new homes rose in price by 0.2% in September, matching the August pace of growth.
Restrictions on the real estate market, operating in most large and medium-sized cities in China, put pressure on new home prices.
In September, prices declined by 0.1% in Shanghai, rose by 0.2% in Beijing, and climbed by 0.5% in Guangzhou, while in Shenzhen new home prices remained unchanged.
However, new housing continues to rise in price in small towns. Thus, in Anqing, prices growth was 0.9% compared to the previous month, and 0.8% in Changchun, 0.8% in Harbin.
