South Korea housing prices fall in Sept, third month running

Tuesday, 02 October 2012 09:53

Posted by Shoaib-ur-Rehman Siddiqui

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SEOUL: Housing prices across South Korea fell 0.2 percent in September from August, private-sector data showed on Tuesday, marking their third consecutive monthly decline and underscoring a stubbornly weak consumer sentiment.

Housing prices fell by 0.1 percent each in August and July on a month-on-month basis and it was the longest losing streak seen since early 2009, the data from Kookmin Bank showed.

Compared with a year earlier, housing prices in September were just 1.2 percent higher, the data showed, setting their slowest annual growth since November 2009.