FAST FIVE: China Home Prices Drop For The First Time Since 2015 As Existing Home Sales Crash 63%

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Overnight, China's National Bureau of Statistics reported that China's home prices fell for the first time in six years as the property slump deepens in the world's second-largest economy.

Property prices in tier 1 cities rose 1.3% mom annualized in September after seasonal adjustments, moderating from 3.2% in August.

That said, Goldman warns that the policy direction of deleveraging the property sector is unlikely to shift, which could continue to weigh on overall growth next year.

That will have a knock-on effect on the broader economy, since Goldman Sachs Group Inc.

estimates the property sector and related downstream industries make up almost a quarter of gross domestic product.

Categories: ZH