Chinese house prices dropped at a faster pace in March, with some key cities seeing the first falls in the current cycle, as the government signalled that it will continue its campaign to clamp down on speculative excesses in the market. Nationwide, prices dropped 0.95% y/y in March, according to a floor-space weighted average of prices in the 35 largest cities calculated by MNI. That marks a steeper drop than February's 0.20% decline and compares with a 0.5% rise in January and +1.6% in December. Prices dropped 0.47% m/m in March, a sharper fall than February's -0.13%. March marked the sixth straight month that ... (full story)