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China Nov new home prices suffer biggest decline in 6 years -Breaking

by Mike Robinson

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© Reuters. Pictured in Beijing, China on December 16, 2017, are apartment blocks. Picture taken December 16, 2017. REUTERS/Jason Lee

BEIJING, (Reuters) – China’s latest home prices experienced the worst month-onmonth drop since February 2015. This was due to tighter policies, a liquidity crunch and a decrease in demand. Official data were released Wednesday.

The new prices for homes fell 0.3% monthly after dropping 0.2% in October according to Reuters. These calculations were based on data from the National Bureau of Statistics (NBS). Their November increase was 3.4% compared to a year prior.

Property, which is a major driver of global growth, has seen a slowdown in recent months. Sentiment has been shaken by strict regulations and a liquidity crisis, which has affected some of the largest and most debtor developers in the country.

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