China’s first‑tier new home prices flat in July, ending 4‑month rebound

New home prices in China’s four first-tier cities were flat on average in July from June, bringing an end to a four-month rebound, as analysts said month-on-month readings had weakened amid seasonal headwinds and an unusually rainy summer, further highlighting the urgency of stabilising the nation’s property market. Shanghai and Shenzhen saw new home prices edge up 0.2 per cent in July from June, while Guangzhou posted a 0.1 per cent gain, according to data released by the National Bureau of...