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China Home Price Growth Slows Under Tougher Mortgage Borrowing

  • Price growth eased for the first time this year in June
  • Authorities are toughening mortgage borrowing requirements
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China's Economic Growth Slows to 7.9% in Second Quarter

Home-price growth in China moderated for the first time this year in June after authorities stepped up measures to cool the market with tougher mortgage borrowing.

New home prices in 70 cities, excluding state-subsidized housing, rose 0.41% last month from May, when then gained 0.52%, National Bureau of Statistics figures showed Thursday. Values in the secondary market, which faces less government intervention, climbed 0.28%.