China's July home prices rise 0.6% m/m

BEIJING, Aug 15 (Reuters) - China’s new home prices rose 0.6% month-on-month in July, in line with June’s growth and marking the 51st straight month of gains, Reuters calculated from official National Bureau of Statistics (NBS) data on Thursday.

On a year-on-year basis, average new home prices in China’s 70 major cities rose 9.7% in July, compared with a 10.3% gain in June.

A slew of government curbs and a broader slowdown in the economy have weighed on the property market.

Beijing has tightened the screws on property developers’ financing channels while some local governments have also raised the bar for purchases to prevent speculation. (Reporting by Beijing Monitoring Desk; Editing by Sam Holmes)