Home Prices Fall Across The Country - Caixin

The prices of new and second-hand houses in first-, second- and third-tier cities all suffered a month-on-month decline in October, the first comprehensive decline in the past eight years, Caixin reported. For new homes, prices in first-, second- and third-tier cities fell by 0.1%, 0.3% and 0.4% m/m, respectively. For second-hand housing, the falls were 0.3%, 0.5% and 0.5% m/m, respectively. Market expectations may improve as the recent supportive financing policies for property developers kick in, and demand may be revived as local governments lower the home purchase threshold and costs, Caixin said citing analysts.