China housing prices on the rise

Housing prices increased for the third straight month albeit at a minimal 0.07%.

Here's more from BBVA:

According to NBS data released today, housing prices increased marginally in August by 0.07% m/m from 0.06% last month, marking the third consecutive month of price increases. Residential housing prices also contracted at a slower pace on an over-year basis for the month, at -1.8% y/y from -2.0% in July, according to our index aggregating the prices of the 70 major cities (including both new and secondary housing).

Since May, housing prices at the national level are now up by 0.2%. The uptrend in housing prices comes as a relief to concerns about a hard landing in the important housing sector, but may also act as a constraint on the pace of monetary easing, as the authorities continue to express concern about maintaining housing affordability.