House prices in China’s major cities are starting to come down from their peak, with official data released on Friday suggesting restrictions on house purchases appear to be working.

In the year to August prices rose more than 30 per cent in several cities. Since then, 23 cities have introduced or strengthened measures to lower demand, including restrictions on who can buy second or third homes and increases in the minimum downpayment required for mortgages.

The cooling measures have led to slowdown in price growth in major cities, according to the data from the National Statistics Bureau. The NBS conducted its first-ever half-month survey to gauge the effects of cooling measures, most of which were introduced during the early October national holiday.