BEIJING, Jan 19 (Reuters) – China’s new home prices extended their decline in December, official data showed on Monday, underscoring persistent strains in the property sector despite repeated government pledges to stabilise it.
Prices fell 0.4% month-on-month, the same pace of decline as in November, according to Reuters calculations based on National Bureau of Statistics data.
On an annual basis, prices dropped 2.7% in December, quickening from a 2.4% fall in the previous month and marking the fastest decline in five months.
(Reporting by Liangping Gao, Yukun Zhang and Ryan Woo; Editing by Tom Hogue)
