China home prices fall at fastest rate since May 2015

Beijing: China's new home prices fell at the fastest pace since May 2015 in September, official data showed on Friday, despite increased efforts to revive the struggling property sector.

In annual terms, new home prices were down 5.8% from a year earlier, deeper than a 5.3% slide in August, according to Reuters calculations based on National Bureau of Statistics (NBS) data.

New home prices were down for the 15th consecutive month, falling 0.7% month-on-month in September and matching a dip in August.