Fresh official data shows that housing prices are continuing to rise in China. The rally has been across the board from first tier to third tier cities with Beijing experiencing a strong surge in its pre-owned homes.

Sixty-four of 70 cities monitored saw prices of new homes rise in August. At the same time, 13 more cities than in July reported increases while 31 cities also saw the pace of growth pick up. Meanwhile, 57 cities saw prices rise in previously owned properties. Most of these cities also saw an increase in growth speed.

Second tier city Zhengzhou, the capital of Henan Province, saw the fastest rise in both new and previously owned homes. Zhengzhou was followed by first tier cities Beijing, Shanghai, Guangzhou, and Shenzhen. Compared with last year, new home prices in all of those these cities rallied more than 20 percent. 

The prices of previously owned homes in Beijing rose by 3.9 percent in August from July. That was the highest in five months. The prices jumped 35 percent year-on-year. More than 25 thousand previously owned properties were sold last month in the capital city as government policies to reduce housing market stock took effect. Statistics show Beijing still had 58 thousand properties in stock by the end of August. That was a 24 percent drop from last year.