China’s Dec new home prices fall at fastest pace since Feb 2015

China’s December new home prices fell at the fastest pace since February 2015, marking the sixth straight month of declines, official data showed on Wednesday, with the sector still struggling to get back on its feet due to weak confidence.

New home prices fell 0.4% month-on-month after dipping 0.3% in November, according to Reuters calculations based on National Bureau of Statistics (NBS) data.

Prices were down 0.4% from a year earlier, compared with a 0.2% fall in November.

Authorities have been scrambling to roll out measures to boost sentiment, but home buyers remain cautious amid a sluggish economy and prolonged property crisis.