BEIJING — China’s home price growth slowed for the fourth straight month as demand cooled further in the biggest cities, official
data showed on Wednesday, signalling government curbs to defuse a bubble in the sector were starting to pay dividends.
In China’s biggest cities, Shenzhen, Shanghai and Beijing prices rose 18.2 percent, 23.8 percent and 24.7 percent, respectively, from a year earlier,
but Shanghai and Shenzhen’s monthly pace slowed as local governments’ tightening measures knocked demand.
Average new home prices in China’s 70 major cities rose 0.2 percent in January from a month earlier,
slowing a touch from December’s 0.3 percent increase in a tempering of values seen since September.
Home prices rose rapidly in many Chinese cities last year, leading to restrictions on purchases and lending in more than 20 cities since October.
