Fresh data suggests that China's property market is keeping steady. New home prices rose in fewer than half the cities monitored by the government in September, compared to a month earlier. This indicates that official property curbs are having a stabilising effect.

Citizens visit a real estate fair in east China's Shanghai Municipality, Oct. 3, 2012. China's economy has slowed for the seventh straight quarter, growing 7.4 percent year-on-year in the third quarter of 2012, the National Bureau of Statistics (NBS) announced Thursday. [Xinhua]

For the fourth consecutive month though, MORE cities saw home price increases than decreases, compared to August. Out of the 70 cities monitored, 31 saw higher prices, 24 saw decreases and 15 remained unchanged.

This is all according to the National Bureau of Statistics. The price increase in these cities are very minimal, all gaining less than four-tenth of a percent in September, after two months of more pronounced gains.

On a year-on-year basis, average new home prices in those 70 cities fell 1.3 percent in September, a seventh straight month of decline. 55 cities saw their home prices dropped year-on-year, while 12 saw prices increased from September 2011.

Property investment in the first nine months of this year increased 15.4 percent compared with a year ago.

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