Key facts
- New home prices in China fell 0.1% month-on-month in June.
- This is a slower rate of decline than the 0.2% drop in May.
- Year-on-year, new home prices decreased by 3.3%.
- First-tier cities have seen a four-month rebound in home prices.
- China's economic growth slowed to 4.3% in Q2.
China's new home prices contracted again in June, though at a slightly slower pace, as weakness in demand across the country offset small pockets of improvement in its major cities. New home prices fell 0.1% from May, a moderation from the 0.2% drop in April, but remained down 3.3% year-on-year. First-tier cities, however, extended a four-month rebound in prices. Economic growth in China slowed sharply to 4.3% in the second quarter from a year earlier, missing analysts' expectations.