In January this year, of 70 major Chinese cities surveyed, 62 cities saw higher prices in the new house market, six cities witnessed lower prices, while new house prices in the remaining two cities were unchanged, all compared to December last year, according to data released by China's National Bureau of Statistics (NBS) on February 24. Based on the NBS data, the highest month-on-month increase in new house prices in Chinese cities in January this year was 1.2 percent and the biggest month-on-month decrease was 1.5 percent.
On the other hand, on year-on-year basis, in January this year 69 cities saw higher new house prices, while just one city saw lower prices. The highest year-on-year increase in new house prices in Chinese cities in January was 20.9 percent and the biggest year-on-year decrease was 4.3 percent.
As regards the second-hand house market in China, in January of the current year, 48 cities saw higher prices, 13 cities witnessed lower prices, while prices in the remaining nine cities were stable, all compared to December last year. The highest month-on-month increase in second-hand house prices in Chinese cities in January was 1.0 percent and the biggest month-on-month decrease was 1.9 percent.
On year-on-year basis, in the second-hand house market in January 69 cities saw higher prices, while one city saw lower prices. The highest year-on-year increase in second-hand house prices in Chinese cities in January was 18.4 percent and the biggest year-on-year decrease was 8.6 percent.