In August this year, the average prices of residential housing in 100 major cities in China rose by 0.92 percent compared to July, rising to RMB 10,442 per square meter, as announced on September 1 by the China Index Academy, a Beijing-based real estate research institute.August witnessed the 15th successive month-on-month rise in Chinese residential housing prices since June 2012. The month-on-month increase rate of average prices in August this year was 0.05 percentage points higher than the month-on-month price growth recorded in July. Of the 100 cities surveyed in August, 71 cities saw increases in residential housing prices, while 29 cities witnessed declines, all on month-on-month basis. Compared with the same month last year, in August this year the average prices of residential housing in the 100 major cities rose by 8.61 percent, indicating a year-on-year increase for the ninth consecutive month and with the year-on-year growth up 0.67 percentage points from the previous month.
Furthermore, the average residential housing price in the 10 biggest cities in China in August this year was RMB 17,871 per square meter, up 1.49 percent month on month and increasing by 12.18 percent year on year.