Home prices in China fell for the 13th straight month in September as sentiment remained weak, with analysts saying the government has to implement stronger measures to address the woes of the nation’s property sector, reports the South China Morning Post.
New home prices in 70 cities, excluding state-subsidized housing, dropped 0.28% month on month, compared with 0.29% in August, according to National Bureau of Statistics (NBS) data compiled by Bloomberg on Monday. Existing home prices declined 0.39% last month, the most since October 2014.
On a year-on-year basis, new home prices fell 1.5% in September, the fastest pace of decline since August 2015, according to Reuters calculations based on the NBS data. Prices fell 1.3% in August.