A mild recovery in the housing market has relieved some pressure on the struggling Chinese economy. Home prices in China rose for a fifth consecutive month in September.
The sector, which accounts for 15% of GDP, has become a source of hope in an economy that is predicted to grow at its slowest pace in 25 years this year.
Average new home prices increased 0.3% in September from August. The same pace as in August.
Economists at ING have announced that such a revival in new home starts could signal property to become an economic growth driver again next year, boosting demand for construction materials from cement to steel.
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