New home prices slid 4.5 percent from a year earlier, hitting the lowest since June 2015, deeper than a 3.9 percent slide in May, according to Reuters calculations based on National Bureau of Statistics (NBS) data.
BEIJING ― China 's new home prices in June fell at the fastest clip in nine years while property sales and investment slumped, increasing pressure on policymakers for more stimulus to prop up the battered sector as it struggles to find a bottom.New home prices slid 4.5 percent from a year earlier, hitting the lowest since June 2015, deeper than a 3.9 percent slide in May, according to Reuters calculations based on National Bureau of Statistics data.Prices were down 0.
Official data also showed China's economy grew 4.7 percent in April-June, its slowest since the first quarter of 2023 and missing a 5.1 percent analysts' forecast in a Reuters poll.While some measures, such as lifting of home purchase restrictions, have helped market sentiment, more stimulus may not bolster falling prices.'The structure of supply and demand in the property sector has been fundamentally reversed.
New Home Prices Fall At Fastest Pace In Years
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