BEIJING (Reuters) – China’s new home prices rose 0.3% in November month-on-month, marking the weakest growth since February 2018, Reuters calculated from official National Bureau of Statistics (NBS) data on Monday.

On an annual basis, average new home prices in China’s 70 major cities rose 7.1% in November, down from 7.8% in October, and the slowest year-on-year pace since August 2018.

A cooling economy and curbs on speculative buying have dented overall demand. Beijing has stepped up scrutiny of developers’ financing channels, and some local governments have also raised the bar for purchases, to quell speculation.

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