New home prices rise in August

New home prices in 100 major cities rose 0.92 percent on a monthly basis to 10,442 yuan ($1,705.18) per square meter in August. This was the fifteenth consecutive month of growth.

Of the 100 cities tracked by SouFun Holdings Ltd, 71 posted hikes with 31 gaining more than 1 percent. July had seen 73 post hikes.

The remaining cities saw declines in new home prices, 10 less than in July. In total, 14 cities experienced a drop of at least one percent.

On an annual basis, average home price in the 100 cities increased 8.61 percent, 0.67 percentage points higher than for July, said the report.