China's growth in new home prices slowed in July for the first time in five months, with smaller cities especially weighed down by higher mortgage rates, price caps on resale homes and other steps to cool speculation, a private-sector survey showed on Sunday.
New home prices in 100 cities rose 0.35% in July from a month earlier, versus 0.36% growth in June, according to data from China Index Academy, one of the country's largest independent real estate research firms.
Growth in home sales is expected to remain mild as the curbs are unlikely to be eased, the survey said. Price growth in China's biggest cities such as Shanghai and Beijing, however, continued to accelerate, up 0.54% versus June's 0.48% growth, suggesting persistent demand for properties in the country's economically most vibrant cities.
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