Prices of new houses in China edged lower in February despite a recent round of policy loosening designed to support the country’s crisis-hit real estate sector.
New home prices across 70 of China’s biggest cities were 0.13 per cent lower compared with the same period last month, according to calculations based on data from the National Bureau of Statistics of China.
The housing data have been closely watched following a nationwide real estate liquidity crisis, which was initially centred around the default of property developer Evergrande but went on to engulf a sector that contributes more than a quarter of economic growth.
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