China November housing inflation eases as tightening bites

BEIJING (Reuters) – China’s November housing inflation eased to its lowest level in the year, a victory for Beijing’s campaign to ward off property bubbles as it steadily loosens monetary policy to ensure a soft landing in the world’s second-largest economy. Average new home prices rose 2.2 percent in November from a year ago, the weakest monthly rise so far in 2011, according to Reuters calculations of latest official data published on Sunday. Home price inflation was 2.8 percent in October. …