China’s new home prices slow 11-month decline after support measures kick in

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China’s new home prices slow 11-month decline after support measures kick in - SCMP

Quick Summary:

Prices across 70 cities fell for the 11th month in October, but at a slower pace, suggesting support measures may be stabilising the market.

Tier-2 cities saw prices for second-hand homes fall 0.4 per cent, versus 0.9 per cent the previous month, while prices in tier-3 cities dropped 0.5 per cent, compared with 0.7 per cent the previous month.

China’s new home prices fell for the 11th month in October, but at a slower pace, suggesting that Beijing may be one step closer to stabilising the market after a slew of support measures.