Home prices in China continued to rise in July, despite government efforts to dampen the market, according to data compiled by China Real Estate Index Systems (CREIS).

Home prices in 100 of China’s largest cities were 7.9% higher than a year earlier, after a 0.87% rise in July. This compares to 12 month prices being up 7.4% in June.

The July increase was the biggest monthly rise since December 2012 and suggests that buyers are no longer as concerned about the government measures and tightening of credit.

The biggest home price increases came in the largest cities, CREIS stated. In China’s 10 most expensive cities, including Beijing and Shanghai, average prices were up 1.3% for the month of July and 11% on the year.
Property prices in China have increased for 14 straight months, according to the CREIS study.