China Feb home prices rise 11.8% y-o-y, up 0.3% m-o-m

[BEIJING] Average new home prices in China's 70 major cities rose 0.3 per cent in February from a month earlier, quickening from January despite increased government curbs ramping up pressure on speculators, an official survey showed on Saturday.

New home price growth had slowed for four consecutive months through to January, when the increase was just 0.2 per cent, before picking up again.

From a year ago, home prices in February rose 11.8 per cent, less than January's 12.2 per cent gain, according to data issued by the National Bureau of Statistics (NBS).

In China's biggest cities, Shenzhen, Shanghai and Beijing prices rose 13.5 per cent, 21.1 per cent and 22.1 per cent respectively from a year earlier.

REUTERS