China’s new home prices slow in November as tightening steps cool market

: New home prices in China grew at a slower monthly pace in November, official data showed on Monday, with tightening policies continuing to cool the market in larger cities while some smaller towns saw prices fall as demand waned.

Prices rose 4.0% in November from the same month a year earlier, the weakest rate since February 2016. That compared with a 4.3% on-year increase in October. However, price rises are uneven and concentrated in clusters in the southern Pearl River Delta and eastern Yangtze River Delta. In the north, some cities have seen demand slump after an initial spurt.

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