The Chinese governments decision to impose restrictions on Chinas housing market now appears to be having an effect, especially at the luxury end of the market, according to a new survey.

Average property prices in Shanghai fell by 5.4% in June, 3.5% in July, and 2.2% in August, according to a joint survey by National Development and Reform Commission (NDRC) and the National Bureau of Statistics (NBS).

However, Beijing seemed to buck the trend with increases of more than 11% over the three months.