Home prices slip to seven-month low

Private home prices have fallen for a second consecutive month to their lowest level since April.

New government indices show that private flat prices in November fell 1.2 percent month-on-month, widening from the 0.5 percent drop recorded in October.

But on year, prices were still 2.9 percent higher.

Large homes of more than 1,076 square feet slipped 2.3 percent month-on-month, while prices of smaller flats were down 1.2 percent.

Rents, meanwhile, edged down 0.7 percent on month but were up nearly two percent compared to a year ago.