China Nov home prices fall 0.7pc year-on-year

Average new home prices in China’s 70 major cities fell 0.7 per cent from a year earlier, according to Reuters calculations based on official data published on Tuesday, a ninth straight month of year-on-year decline. In month-on-month terms, however, prices rose for the fourth month in the last five, gaining 0.3 per cent in November. China’s fight against property speculation, heading into its third year, has centred around reducing financing for buyers and limiting the number of homes people can own.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1107302/china-nov-home-prices-fall-07pc-year-year