Home prices in most Chinese cities continued to drop in October despite easing restrictions, official data showed on November 18.
New housing prices in 69 of 70 major cities showed month-on-month drops in October, the National Bureau of Statistics (NBS) said.
Only Zhengzhou, capital of central China's Henan Province, avoided the trend, with prices remaining flat from the previous month.
This latest data marks the sixth consecutive monthly drop in the residential property market.
On an annual basis, house prices in 67 out of the 70 cities were lower from a year ago.
"The pace of decline was eased following mortgage policy adjustments and efforts to cut housing inventories," said Liu Jianwei, a senior statistician at the NBS.
"New measures are expected to push sales of inventories in case of a further price slump," said Kuang Xianming, Director of the Economic Research Center at the China Institute for Reform and Development. |