China's central bank said growth in mortgage loans to home buyers decelerated in the second quarter, as property-control measures started to hit sales in large cities.
Outstanding mortgage loans to home buyers increased 30.8% from a year ago to 20.1 trillion yuan ($2.97 trillion) at the end of June, compared with growth of 35.7% at the end of March, the People's Bank of China said Friday.
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Outstanding loans to property developers climbed 18.3% at the end of June, to 6.4 trillion yuan, slightly faster than the 17.3% growth at the end of March, the PBOC said.
Outstanding credit extended to the entire property sector grew 24.2% to 29.72 trillion yuan at the end of the second quarter, compared with a 26.1% increase at the end of the first, the central bank said.
Housing sales in China's smaller cities continue to drive prices and investments over all despite declines in large cities that have curbs on home buying, analysts say.
(END) Dow Jones Newswires
July 21, 2017 05:03 ET (09:03 GMT)