November 15, 2018 / 1:40 AM / a month ago

China's new home prices rise 1.0 pct m/m in Oct

BEIJING, Nov 15 (Reuters) - China’s new home prices rose 1.0 percent in October from a month earlier, faster than a 0.9 percent increase in the previous month, Reuters calculated from data published on Thursday by the National Bureau of Statistics (NBS).

On a yearly basis, average new home prices in China’s 70 major cities increased 8.6 percent, accelerating from the 7.9 percent gain in September.

China’s property market has been heating up, despite tighter curbs designed to rein in a near-three-year real estate boom that has spilled over from the country’s megacities to the hinterland.

But there are signs of a slowdown in some parts of the property sector as the world’s second-largest economy faces broader headwinds. (Reporting by Beijing Monitoring Desk; Editing by Sam Holmes)

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