In November this year, of 70 major Chinese cities surveyed, 27 cities witnessed lower new house prices, with 33 cities seeing higher prices, while new house prices in the remaining 10 cities were unchanged, all compared to October, according to data released by China's National Bureau of Statistics (NBS). Based on the NBS data, the biggest month-on month decrease in new house prices in Chinese cities in November this year was 0.4 percent and the biggest month-on-month increase was 2.9 percent.
On the other hand, on year-on-year basis, in November this year 49 cities saw lower new house prices, with only 21 seeing higher new house prices. The biggest year-on-year decrease in new house prices in Chinese cities in November was 5.6 percent, while the biggest year-on-year increase was 44.6 percent.
As regards the second-hand house market in China, in November 16 cities saw month-on-month decreases in prices, 40 cities saw month-on-month rises in prices, while prices in the remaining 14 cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in November was 1.9 percent, while the biggest month-on-month decrease was 0.7 percent.
On year-on-year basis, in the second-hand house market in November 37 cities witnessed lower prices, and 32 cities saw higher prices, while the average price in the one remaining city was unchanged. The highest year-on-year increase in second-hand house prices in Chinese cities in October was 38.9 percent and the biggest year-on-year decrease was 9.4 percent.