China house price growth tops global rankings, 40pc gain in some cities

Chinese cities account for the top eight rankings in Global Residential Cities Index compiled by international real estate group Knight Frank.

Nanjing topped the chart, posting price growth of almost 43 per cent in the 12 months to the third quarter of 2016.

Shanghai was not far behind with growth near 40 per cent, followed by the technology hub of Shenzhen of 35 per cent. Prices surged more than 30 per cent in the capital, Beijing.

China’s policymakers have moved to cool the market in recent months.

Photo of Shenzen – China