China's home prices up for 4th straight month

Hong Kong

HOME prices in China rose for a fourth consecutive month in August, offering hope that the ailing property sector is becoming less of a drag on the slowing economy.

But analysts do not expect a full-blown turnaround any time soon, as a huge overhang of unsold homes discourages new construction and investment in all but the biggest cities.

Average new home prices inched up 0.3 per cent in August from t…