China's home price rise cools to 8-month low

Beijing

CHINA'S home price inflation slowed to an eight-month low in March, extending to a third month a loss of momentum in a property market that has been a strong spot in the world's second-largest economy.

Average new home prices in China's 70 major cities rose 7.7 per cent in March from a year earlier, easing from the previous month's 8.7 per cent rise, according to Reuters calculations based on data released by the National Bureau of Statistics (NBS) yesterday. In month-on-month terms, prices rose 0.2 per cent in March, slowing from February's rise of 0.3 per cent.