China’s residential property market extended its decline in July, with National Bureau of Statistics figures showing new home prices fell 0.31% from June, a sharper drop than the prior month’s 0.27% slide. Prices were 2.8% lower than a year earlier, narrowing slightly from the 3.2% annual decrease recorded in June. The weakness was not confined to newly built properties. Prices of existing homes fell 0.55% on the month, following a 0.61% decrease in June, underscoring persistent pressure across the market despite a raft of targeted policy measures by local governments and regulators aimed at supporting demand. The latest data highlight the ongoing challenges facing China’s property sector, a key pillar of the economy, as authorities seek to stabilise growth amid subdued consumer confidence and tighter financing conditions for developers.