BEIJING, Jan 16 (Reuters) - China's new home prices fell for the fifth month in December, official data showed on Monday, as COVID outbreaks hurt demand, but the dismantling of strict pandemic curbs and hope for more support measures have brightened the outlook.
New home prices in December declined 0.2% month-on-monthunchanged from the pace in November, according to Reuters calculations based on National Bureau of Statistics (NBS) data released on Monday.
Prices dropped 1.5% year-on-year, falling for the eighth straight month. Prices slumped 1.6% year-on-year in November.
A flurry of property support measures for home buyers and property developers in recent weeks, coupled with Beijing's abrupt reopening last month cheered the market, but continued sluggish demand still constrains the recovery. (Reporting by Liangping Gao, Ella Cao and Ryan Woo; Editing by Jacqueline Wong)
