House prices fall in three out of four Tier 1 cities in China
Home prices fell in three of the the four Tier 1 cities in September, according to the latest SCMP-Creda index; prices fell 5.6% in Guangzhou, 3.5% in Shenzhen, and 0.9% in Shanghai. However, prices still rose in seven of the other major cities, including in Beijing, where prices rose 7.1%. There have been growing concerns over the state of the Chinese property market over the last several months, partly due to turbulence in stock markets, and partly due to concerns over the number of uninhabited houses, particularly in the major cities.

New home sales across 10 major cities tracked by SCMP-Creda index hardly gained, while prices fell in Shanghai, Shenzhen and Guangzhou last month