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China's new home prices fall at faster pace in Oct

Wednesday, November 16, 2022
China's new home prices fall at faster pace in Oct © Reuters. FILE PHOTO: Surveillance cameras are seen near residential buildings under construction in Shanghai, China July 20, 2022. REUTERS/Aly Song

BEIJING (Reuters) - China's new home prices fell at a faster pace in October as persistent COVID-19 curbs, a faltering economy and property woes weighed on demand, official data showed on Wednesday, but a rescue package for the sector has brightened the outlook.

New home prices declined 0.3% month-on-month in October after easing 0.2% in September, according to Reuters calculations based on National Bureau of Statistics (NBS) data.

New home prices slid 1.6% year-on-year in October, falling for the sixth straight month. Prices declined 1.5% year-on-year in September.

Chinese regulators have outlined multiple financing measures to shore up the country's struggling real estate sector, two sources said on Sunday.

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29-11-2022 07:26:54 (UTC+7)

EUR/USD

1.0348

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EUR/USD

1.0348

+0.0011 (+0.11%)

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138.59

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 EUR/USD1.0348Neutral
 GBP/USD1.1974↑ Buy
 USD/JPY138.59↑ Sell
 AUD/USD0.6656↑ Buy
 USD/CAD1.3482↑ Sell
 EUR/JPY143.40Sell
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