BEIJING, Jan 2 Reuters China39;s average daily home sales during the threeday New Year holiday in 40 cities, based on floor area, fell 26 compared with the same period last year, a survey showed on Tuesday.

Sales fell the most in smaller cities, dropping 50 during the holiday, according to data from the China Index Academy, one of the country39;s largest independent real estate researchers.

Shifts in residents39; expectations and policy support are key to real estate stabilisation in 2024, the firm said.

For 2024, the firm said it expected more easing of restrictive property policies, with full relaxation on home buying curbs in secondtier cities.

Authorities in recent months have been rolling out measures to support the crisishit property market.

Top Chinese leaders at a key meeting in December to chart the economic course for 2024 pledged to resolve real estate risks and promote stable and healthy development of the market.

Reporting by Liangping Gao and Ryan Woo; Editing by Gerry Doyle

Source Reuters