China's new home price grew at slightly faster pace in May despite raft of cooling measures

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New home prices in China rose at a slightly faster pace in May, although there were signs that government measures to cool the market were beginning to temper gains.

Average new home prices in 70 major Chinese cities rose 0.52 per cent in May from a month earlier, accelerating slightly from 0.48 per cent in April, according to data released by the National Bureau of Statistics on Thursday.

On a year-on-year basis, new home prices rose 4.9 per cent, slightly faster than a 4.8 per cent rise in April . . .

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