BEIJING (Reuters) -China’s new home prices fell at their fastest pace in a year in October, official data showed on Friday, highlighting persistently weak demand in the crisis-hit property sector.
Prices fell 0.5% month-on-month, the steepest decline since October last year, after a 0.4% drop in September, according to Reuters calculations based on data released by the National Bureau of Statistics.
On an annual basis, home prices fell 2.2% in October, matching the rate of decline from the previous month.
(Reporting by Liangping Gao, Yukun Zhang and Ryan Woo; Editing by Sam Holmes)
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