BEIJING (Reuters) – Costs of latest properties in China rose at slower tempo in August, a non-public survey confirmed on Sunday, because the crisis-hit property sector struggles to search out its backside after a slew of supportive insurance policies.

The typical price for brand new properties throughout 100 cities edged up 0.11% from July, slowing from the earlier month’s 0.13% rise, in accordance with knowledge from property researcher China Index Academy.

China’s property sector, a pillar of the financial system, has lurched from one disaster to a different since 2021, when a regulatory crackdown on excessive leverage amongst builders triggered a liquidity disaster.

A collection of stimulus and easing measures from native policymakers have struggled to spice up gross sales or enhance liquidity.

In August 35 cities reported increased dwelling costs, down from 38 in July.

“Overall, as (the property sector enters) the traditional peak season of ‘Golden September and Silver October’, real estate developers may increase their efforts to promote sales,” China Index Academy mentioned.

“Coupled with the further implementation and effectiveness of supportive policies, the market activity in core cities is expected to slightly rebound in the short term,” it mentioned.