BEIJING :China’s new home prices were unchanged in June, the weakest result this year, data showed on Saturday, increasing pressure on policymakers for more stimulus as economic recovery falters.
The flat result from a month earlier, with rises slowing nationwide, was below May’s 0.1 per cent gain, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Prices were also unchanged from a year earlier, retreating from a 0.1 per cent increase in May.
The property sector, accounting for one-fourth of activity in the world’s second-biggest economy, slumped sharply last year as developers defaulted on debts and suspended construction of presold housing projects.
Measures have ranged from extended financial support for developers to multi-pronged incentives for home buyers.
