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China Home Prices Increase in More Cities on Looser Credit

China’s home prices rose in September in more than half of the 70 major cities monitored by the government for the first time in 17 months, as home-purchase restrictions were loosened and interest rates cut.

New-home prices rose in 39 cities, compared with 35 in August, the National Bureau of Statistics said Friday. Prices dropped in 21 cities, fewer than the 25 in August, and were unchanged in 10.

The recovery in prices last month extended to a larger number of smaller cities, underpinned by five rate cuts since November and easing of property curbs as the government is dealing with the slowest economic expansion since 2009. To further boost the recovery in less prosperous regions, China cut the deposit for first-time homebuyers in those cities for the first time in five years on Sept. 30, as it tries to revive property investment that’s been a drag on growth.

“More second-tier cities saw prices reversing a decline last month, as a string of policies to boost the market start to show accumulated...


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