China’s September home prices ascend at record rate

In September, China's home prices leapt the fastest rate on record as purchasers rushed to close contracts right before new restrictive measures took effect in October. It definitely suggests that this month's growth might appear to be more muted.

In September, average new home prices in China's key cities soared 11.2% percent from a year earlier, accelerating from a 9.2% surge in August, as a National Bureau of Statistics survey revealed on Friday.

Second-tier cities demonstrated the highest year-on-year price growth in September once again because steep price surges have spilled over to other parts of this Asian country.

Hefei, capital city of Anhui province, central China, turned to be the top performer in the price soar, with prices ascending 46.8% from a year earlier, much quicker than the 40.3% surge in August.

The coastal city of Xiamen, southeastern China, is considered to be the top performer in August, with its record price surge of 46.5%, accelerating from 43.8% last month.

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