Slower rise in China new-home prices

[SHANGHAI] New home price growth in China slowed last month, led by the four cities the government defines as first-tier, amid tighter credit to rein in excessive borrowing and individual city measures to curb property prices.

Prices in Beijing and the southern business hub of Shenzhen each rose 0.2 per cent in February from a month earlier, the National Bureau of Statistics said on Tuesday.

That was the slowest pace since October 2012. They added 0.4 per cent in Shanghai, the smallest increase since November 2012, and gained 0.5 per cent in Guangzhou. Prices climbed in 57 of the 70 cities tracked by the government. That compares with 62 in January.

"Overall, we see the property sector as becoming increasingly a major and more real risk to growth and financial stability this year," said Dariusz Kowalczyk, a senior eco…