China's housing inflation eases slightly in August: ANZ

China’s housing inflation eased slightly in August, according to the ANZ Bank.

The August figure reflected an annual rise of 4.1% against July's 4.3% annual increase, suggesting that the central government's tightening efforts are continuing to show modest results.

The Chinese National Bureau of Statistics reported that real estate prices in 46 out of the 70 largest cities either declined or remain unchanged in the month.

Of the 70 large and midsize cities covered in the government survey, 23 showed higher prices in August than in July, the National Bureau of Statistics says.

This was down on the 39 showing higher prices in July than June.

The ANZ report notes new home prices rose in Shanghai (+0.3ppt), Guangzhou (+0.6ppt) and Shenzhen (+0.2ppt); but were flat in Beijing.

On a month-to-month basis, housing inflation was flat nationwide, it notes.

Forbes reports month-on-month declines in new home prices in 16 cities in August, up from 14 cities showing declines in July.

In the latest effort to curb property prices, Beijing has required municipal and state governments to establish new home price control targets based on economic growth and increases in disposable income.