New home prices rose in 69 of 70 major Chinese cities in August from the previous year, official data showed on Wednesday, the same showing as in July, backing the case for more cooling measures from the government.
New home prices in Beijing rose 14.9 percent on year in August, compared with 14.1 percent in July, while prices in Shanghai climbed an annual 15.4 percent for August versus 13.7 percent in July, according to the National Bureau of Statistics.
On average, new home prices across the country rose 8.3 percent on year in August, according to calculations by Reuters based on the data, higher than July's 7.5 percent annual increase and marking an eighth straight month of gains.
Chinese authorities have embarked on several rounds of cooling measures in recent years to bring down stubbornly high real estate prices.
According to Alan Jin, property analyst at Mizuho Securities Asia, a lack of supply continues to drive prices higher.
"In terms of home price growth, for the moment they are having a shortage of supply. There are not enough high-end products. Once launched, they are usually snapped up overnight or in the short-term," he told CNBC.