China’s first-tier new home prices rise for third month as stabilising steps gain traction (opens original article in a new tab)

China's first-tier new home prices rose for the third month in May, indicating a gradual recovery in confidence as stabilisation measures take hold, with 16 out of 70 cities recording price increases.

• New home prices in China's first-tier cities rose 0.2% in May, extending a three-month rebound
• 16 out of 70 cities recorded month-on-month increases, up from 14 in April
• Residential property sales fell 14.1% year on year in the first five months