China's Sept home price growth fell

China's home price increase slowed down further in September as fewer cities saw price increases month-on-month and the growth rate narrowed, the National Bureau of Statistics said on Thursday.

Among the 70 major cities in China, 31 experienced a month-on-month increase in August, compared with 36 in August. The average price increase was no more than 0.4 percent, down from 1.3 percent in August.

A total of 24 cities saw a price drop, compared with 20 in August, according to the bureau. On a yearly basis, 55 cities experienced a price fall, while 12 saw a price hike.

Meanwhile, property investment grew 15.4 percent to 5.105 trillion yuan ($785 billion) in the first nine months of this year. The growth rate, however, is down 0.2 percentage points against the previous eight months, according to the bureau.

huyuanyuan@chinadaily.com.cn