Stock Groups

China new home prices fall at slower pace in December -Breaking

© Reuters. FILE PHOTO – Beijing, China. January 10, 2017, photo by Jason Lee. REUTERS/Jason Lee

BEIJING (Reuters – China’s latest home prices declined at a slower rate in December than a one month prior, official data revealed on Saturday. The slowdown is a result of stabilising demand, which was driven by marginal easing by financial curbs and promotional efforts by property developers.

The average new property price in China’s 70 largest cities fell 0.2% from a month before, which was slower than the 0.3% fall in November according to Reuters calculations based on data published by National Bureau of Statistics (NBS).

China’s property market is now slower than it was in June 2021, as regulators intensified their deleveraging campaign to tackle the sector. This led to defaults at some companies that were heavily indebted.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.