The mainland property market showed a faster pace of recovery last month with average annual prices in major cities rising for the first time in seven months, while investment in real estate expanded 9.9% in the first half.

However, analysts predicted a decline in sales volume and a flat growth in prices in the second half as local governments strictly followed the home-loan lending restrictions for second-home buyers and demand softened.

Average prices in 70 major cities rose 0.2% last month from a year earlier, the first gain in seven months, according to the National Development and Reform Commission.

South China Morning Post