BEIJING: China’s home prices rose the most in nearly three years last month, adding to the threat of a property bubble that is set to test government policymakers ahead of a key economic reform meeting due next month.
Average new home prices in 70 major cites climbed 9.1 per cent last month from a year ago.
The rises show that China’s attempts to balance controlling property prices without stifling one of the bright spots of growth in a slowing economy have not succeeded.
The focus now turns to whether the government will act at the ruling party’s plenum due next month.
– Reuters
