China home prices rise for second straight month in November

Beijing

HOME prices in China rose for the second straight month in November in year-on-year terms, signalling further stabilisation in the country's largest urban housing markets, although oversupply continues to plague smaller cities.

Average new home prices rose 0.9 per cent in November from a year earlier, Reuters calculated from the National Bureau of Statistics (NBS) data released on Friday, continuing October's 0.1 per cent rise.

The two months of year-on-year increases follow 13 consecutive months of declines, providing tentative signs of an improving property market and easing fears of a sharper slowdown in the broad economy,…