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China's July home prices cool, as escalating trade war and slowest economic growth in decades send shivers through property market
China’s frenzied housing market has cooled, as a government effort to cap prices is biting, while the impact of the year-long US-China trade war has percolated into the economy and caused the domestic output to grow at the slowest quarterly pace in three decades. The average cost of a new home rose by 0.59 per cent in July, marking the slowest increment in five months, while increases were recorded in only 61 of 70 cities being monitored. June’s growth was 0.66 per cent while prices grew 0.71 per cent in May, according to calculations based on the National Bureau of Statistics data. “The government recently ... (full story)