Indicators
South Koreans’ Home Prices View Weakens for First Time in Months
The Bank of Korea cited a slowdown in the growth of home prices in Seoul when it finally decided to pivot and cut rates.
Photographer: Bloomberg
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South Korean consumers’ confidence in the country’s housing-market rally weakened for the first time since the start of the year, underscoring the impact of government steps that helped cool the real estate market and pave the way for a central bank pivot.
An index indicating the one-year outlook for home prices slipped to 116 this month from 119 in September, the Bank of Korea said Wednesday. The index reflects a survey that took place between Oct. 8 and 16, a period during which the BOK cut its benchmark interest rate to 3.25%.