In March this year, of 70 major Chinese cities surveyed, 56 cities saw higher prices in the new house market, four cities witnessed lower prices, while new house prices in the remaining 10 cities were unchanged, all compared to February this year, according to data released by China's National Bureau of Statistics (NBS) on April 18. Based on the NBS data, the highest month-on-month increase in new house prices in Chinese cities in March this year was 0.6 percent and the biggest month-on-month decrease was 0.2 percent.
On the other hand, on year-on-year basis, in March 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 March was 15.5 percent and the biggest year-on-year decrease was 4.2 percent.
As regards the second-hand house market in China, in March of the current year, 42 cities saw higher prices, 14 cities witnessed lower prices, while prices in the remaining 14 cities were stable, all compared to February this year. The highest month-on-month increase in second-hand house prices in Chinese cities in March was 1.1 percent and the biggest month-on-month decrease was 1.0 percent.
On year-on-year basis, in the second-hand house market in March 68 cities saw higher prices, while two city saw lower prices. The highest year-on-year increase in second-hand house prices in Chinese cities in March was 13.2 percent and the biggest year-on-year decrease was 8.4 percent.