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China's property downturn continues into second month

It is the biggest fall since 2011 and could hinder growth

Beijing

CHINA's home prices fell for the second consecutive month in October from a year earlier, official data showed on Tuesday, pointing to a persistent property downturn - despite government efforts to lift the market.

The price drop was the biggest since Reuters started calculating nationwide housing prices in 2011, when the National Bureau of Statistics stopped issuing nationwide price data.

The deceleration in the property market, which accounts for about 15 per cent of China's economy, intensified...

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