BEIJING–China’s housing sales decline slowed further as property controls chilled the market.
Housing sales by value in October were 3.4% lower from a year earlier, according to calculations made by The Wall Street Journal based on National Bureau of Statistics data released Tuesday. That compared with a 2.4% decrease in September, marking the second straight month of contraction.
For the first 10 months of the year, housing sales grew 9.6% from a year earlier, compared with an 11.4% increase from January through September.
Property investment, including in commercial and residential real estate, rose 7.8% in the year through October to 9 trillion yuan, compared with an 8.1% gain in the first nine months of the year.
Construction starts grew 5.6% from a year earlier to 1.45 billion square meters. That compared with 6.8% growth in the year through September.
Corrections & Amplifications
This item was corrected on November 13, 2017 at 0307 GMT to reflect that construction starts grew 5.6% from a year earlier at 1.45 billion square meters. That compared with a 6.8% growth in the year through September, not August.
Construction starts grew 5.6% from a year earlier at 1.45 billion square meters. That compared with a 6.8% growth in the year through September. “China January-October Housing Sales Rise 9.6% From a Year Earlier,” at 9:20 p.m. Eastern time on Monday, incorrectly said “that compared with 6.8% growth in the year through August” in the final paragraph.
Courtesy of MarketWatch
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