Property prices edge up in June

Property prices in China's 70 major cities climbed 0.2 percent in June, the first positive year-on-year growth since December 2008, the National Development and Reform Commission (NDRC) said on Friday.

The month-on-month figure was also up 0.8 percent, with the growth rate 0.2 percentage points higher than in May, pointing to a further rebound in the property market.

Thirty-four cities registered year-on-year increases in new residential building sales, with Yinchuan in Ningxia Hui autonomous region topping the list with a growth of 5.7 percent. Prices however, fell in 36 cities, with Shenzhen recording the biggest drop of 6.6 percent, the NDRC said.