The explosive rise of housing costs appears to have been stopped in its tracks, following a series of cooling measures by the central government.

The impact of the policies is reflected in the State Statistics Bureau's list of March property prices across 70 large and mid-tier cities.

New housing costs in 12 areas are lower than the same month last year. Secondhand property prices dropped in 16 cities, including Beijing, Dalian, Wuhan, and Chengdu.

Rates remained stable in 10 other locations. Expert say the land market is experiencing a dull season, which has also affected the real estate market.