There may be a small fourth-quarter rebound in China's property prices after the buildup in the supply of houses starts to gradually ease, analysts said on Tuesday.

"We expect the property price to increase 5 percent in the fourth quarter after a flat second and third quarter," said Nicole Wong, regional head of property research at CLSA.

"As both first-home buyers and property developers found it easier to get bank loans, we expect property sales will pick up but price to remain stabilize," said Wong.

The turnaround time for existing inventories is expected to decline from 9.6 months to 7.8 months over the course of this year, according to the research group.

"This amount of inventories will in fact keep property developers in competition with each other, thus helping to prevent the property price from seeing a strong rebound," she added.

According to the group's research, the country's gross sales in terms of floor area this year will grow 9 percent year-on-year.