China's new home prices rise 0.1% in November from October
Average new home prices in 70 major cities rose 0.1% in November from the previous month, Reuters calculated from National Bureau of Statistics (NBS) data. That compared with 0.2% on-month growth in October. Prices rose 4.0% in November from the same month a year earlier.
Reuters | Beijing | Updated: 14-12-2020 07:08 IST | Created: 14-12-2020 07:08 IST
New home prices in China grew at a slower monthly pace in November, official data showed on Monday, with tightening policies continuing to cool the market in larger cities while some smaller towns saw prices fall as demand waned. Average new home prices in 70 major cities rose 0.1% in November from the previous month, Reuters calculated from National Bureau of Statistics (NBS) data. That compared with 0.2% on-month growth in October.
Prices rose 4.0% in November from the same month a year earlier. That compared with a 4.3% on-year increase in October. China's property market has recovered quickly from the COVID-19 pandemic, prompting the government to step up efforts to deleverage the highly indebted sector to curb financial risk.
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