Chinese home prices' ninth straight month of increases may make for shocking headlines, but analysts don't expect fresh property sector curbs anytime soon.
Average home prices in 70 major cities rose 9.1 percent on year in September, according to Reuters calculations based on official data, faster than August's 8.3 percent rise, marking a ninth straight month of year-on-year advances, but month-on-month, prices were up 0.7 percent, a tad below August's 0.8 percent increase.
While the year-on-year figures look high, "most of the growth actually occurred in February and March," before property cooling measures were introduced, noted James MacDonald, head of China research at Savills. "While it's high year-on-year, month-on-month is lower than the beginning of the year."
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He does not expect any new cooling measures in the near term, although the upcoming plenary in November may bring some reform efforts. China's Communist Party leaders will hold the third Plenary Session in November to set the country's economic agenda.
"This is a good period of time for longer-term policy regulations to steer property in a healthier direction," he said. He expects announcements on property taxes, land supply reform and possibly different approaches on financing.
Others note the average price rise doesn't tell the whole story.