Home price falls ease in August

China's home prices fell at a slower rate in August than the previous month, an independent survey showed Monday, as more local governments loosened purchase restrictions to prop up sales.

The average price of a new home in 100 major cities was 10,771 yuan ($1,752) per square meter last month, down 0.59 percent from July, the China Index Academy said in a statement.

It was the fourth month-on-month decline in a row, but the rate of the fall was slower than the 0.81 percent recorded in July.