Accelerating price growth for new housing in cities across China lost more steam in November amid a flurry of purchasing curbs in major cities, though price gains from a year earlier remained comfortably in double-digit territory.
The average price for new residential housing rose 12.6 per cent in November year on year, according to a weighted average from Reuters based on data for 70 major cities published by the National Bureau of Statistics. That is up just 0.3 percentage points from October, whereas previous months had frequently seen jumps of 1 or 2 percentage points at a time.
In month-on-month terms prices rose only 0.6 per cent nationwide, the first time growth fell below one percentage point in three months and well down from a peak of 2.1 per cent in September.