Red-hot housing market cools down as brakes applied

New home prices in large Chinese cities fell slightly in September while gains in smaller cities slowed as city-specific measures to cool the overheated property market continued to take effect.

Analysts said more measures for steady and stable growth of the housing market are likely to be introduced across China, and more supply models for meeting various housing demands also will be found as the country vows to offer inclusive housing conditions to residents nationwide.

Wang Menghui, minister of housing and urban-rural development, said at a media briefing on Sunday that authorities will keep anti-speculative, city-specific measures consistent and will not loosen controls against speculation.