New home prices in 70 major Chinese cities fell at a slightly faster pace in September, despite more government measures introduced to reverse a prolonged property slump.
Average new home prices in the 70 cities dropped 0.3% in September from August, compared with the 0.29% decline in August, according to calculations by The Wall Street Journal based on data released by the National Statistics Bureau on Thursday.
Of the 70 cities, 54 reported declines in home prices in September, up from 52 cities in August.
Compared with a year earlier, average home prices fell 0.57% in September, compared with a 0.55% decline in August, according to the calculations.
There were 45 cities reporting home-price declines from a year earlier, up from August’s 44 cities.
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