New home prices in China fell for the second consecutive month in October, as a property slowdown and mounting distress at real estate developers clouded the country’s economic outlook.
Prices for new homes across 70 of China’s biggest cities fell by 0.25 per cent in October compared with the previous month, according to data from the country’s National Bureau of Statistics.
The metric, which also edged lower in September for the first time in more than half a decade, highlights rising pressure on policymakers who have sought to limit debt growth across the real estate sector but are now confronted with liquidity issues at many developers.
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