China's Nov home prices down for 3rd straight month

Beijing

CHINA'S home prices fell in November for a third consecutive month versus year-ago levels, Reuters calculations from official data showed on Thursday, pointing to an intractable property downturn despite government efforts to energise the market.

Average home prices in 70 major Chinese cities were down an annual 3.7 per cent last month from 2.6 per cent down in October, the biggest drop since Reuters started calculating nationwide housing prices.