China's new home prices rise 1.1% m/m in July

China's new home prices rose 1.1 percent in July from a month earlier, faster than the increase of 1 percent in June, Reuters calculated from National Bureau of Statistics (NBS) data published on Wednesday. That marks the 39th straight month of price increases, according to Reuters calculations. On a year-on-year basis, average new home prices in China's 70 major cities increased 5.8% in July, quickening from a 5.0% gain in June. China's property market has been heating up, despite tighter curbs designed to rein in a more-than-two-year real estate boom.