China April new home prices fall for the first time since Dec as Covid bites


BEIJING: China's new-home prices in April fell for the first time month-on-month since December, official data showed on Wednesday, depressed by fragile demand in small cities and strict, widespread COVID-19 lockdowns.

Average new-home prices in 70 major cities fell 0.2% on a month-on-month basis, compared with zero growth in March, according to Reuters calculations based on April data from the National Bureau of Statistics (NBS).

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