The figures suggest property values are beginning to steady as policymakers step up efforts to end the housing slump that has weighed on Asia’s largest economy for more than three years. The downturn has wiped out billions of dollars in household wealth and added to deflationary pressures.
China’s decline in home prices abated for a fourth month in December, reflecting signs of market stabilization after the government’s latest stimulus blitz.
New home prices in 70 cities, excluding state-subsidised housing, dropped 0.08% from November, the smallest decline in a year and a half, National Bureau of Statistics figures showed Friday. Existing home values slid 0.31%, easing from a 0.35% drop a month earlier.
