House prices remain stable in major cities

Increases seen mainly in urban areas with relatively loose housing policies

Housing prices in 70 major Chinese cities remained stable in July, while the pre-owned property market saw mild heat due to the peak season for rental business, experts said.

According to the housing price data of 70 major Chinese cities released by the National Bureau of Statistics on Thursday, house prices for newly built property in the first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen saw 0.3 percent growth in July compared to the month before, mainly powered by price rises in Beijing and Guangzhou.