China’s property market falters
China’s frothy property market may have peaked after a government clampdown on speculators, new data indicated yesterday. Property prices across 70 cities fell 0.1 per cent in June compared with May – the first monthly fall since February 2009. Despite the monthly fall in June, property prices across China still remained 11.4 per cent higher than a year ago. Financial markets are now trying to assess whether the chinese property market will deflate in the painful way the US market has done since 2007.