Housing prices up 7.1% in 70 China cities

China's property boom received another booster as housing prices surged 7.1% in 70 major cities in June year-on-year, with Shenzhen leading the strong growth. Shenzhen's property prices skyrocketed 15.9% in June as second-homes saw an increase of 16.1% whilst new property prices rose slightly lower at 13.9%, according to the report by the National Development.