NEW home prices increased at a firm pace in China in September, supported by gains in smaller cities and showing the market remained resilient despite pressures from softer investment, a slowing economy and government curbs on the sector.

Average new home prices in China’s 70 major cities rose 0.9 percent in September from a month earlier, media calculated from official data published Saturday, slower than the previous month’s reading of 1.4 percent, which was the fastest growth in two years.

Compared with a year ago, however, new home prices climbed 7.9 percent, the quickest year-on-year gain since August 2017 and faster than the previous month’s 7-percent rise.

Prices continued to rise despite tougher curbs designed to rein in a near-three-year real estate boom that has spilled over from megacities to the hinterland.

In a sign of continued broad-based market strength, 64 out of the 70 cities surveyed by the National Bureau of Statistics (NBS) reported a monthly price increase for new homes, though the number was down from 67 in August.

Prices in China’s largest cities where the strictest control measures are in place, were mostly stable in September, though Guangzhou prices rose 0.4 percent month on month and 4.3 percent year on year.

The top price performer in September was Xi’an, the capital of China’s northwestern Shaanxi Province, whose prices rose a blistering 6.2 percent from the previous month, NBS data showed.

Official data showed growth in China’s real estate investment eased in September while home sales fell for the first time since April, as developers dialed back expansion plans amid economic uncertainties.

Real estate investment, which mainly focuses on residential but also includes commercial and office space, rose 8.9 percent in September from a year earlier, compared with a 9.2-percent rise in August.(SD-Agencies)