Housing prices in China accelerated in December, climbing 7.8 per cent from the same month a year earlier and prompting a flurry of new government measures as Beijing attempts to slow soaring prices without derailing the economic recovery.
Average prices in 70 large and medium-sized cities across the country rose 1.5 per cent in just one month to the end of December, the National Development and Reform Commission said yesterday.
The increase was the fastest in 18 months and a strong acceleration from November, when average prices rose 5.7 per cent year-on-year and 1.2 per cent from October.
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