China’s home prices fell by the most in nine years in September, extending a decline for the 16th consecutive month and underscoring the challenges to revive the sector despite a top government official saying that the market has started to “bottom out” following a slew of supportive measures.
New home prices dropped 6.1 per cent across 70 mainland cities from a year earlier, the biggest decline since May 2015. The decline expanded from a 5.7 per cent slump in August, according to data from the National Bureau of Statistics (NBS) on Friday.
