BEIJING—Growth in new home prices in China was flat again in March versus the previous month, official data showed on Friday, pointing to fragile demand as growing COVID-19 lockdown measures dampened consumer confidence.
Average new home prices in 70 major cities were unchanged on a month-on-month basis for the second time in a row, according to Reuters calculations based on March data from the National Bureau of Statistics (NBS).
On a year-on-year basis, new home prices rose 1.5 percent, the slowest pace since November 2015, and easing from a 2.0 percent gain in February.
Over 60 cities have eased curbs on home purchases to support the ailing property market, after an official campaign to reduce developers’ high debt levels pushed the sector into a deep chill in the second half of 2021.
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