NBS: China’s new house prices decline in August from July levels

Friday, 19 September 2014 10:19:23 (GMT+3)   |   Shanghai
       

In August this year, of 70 major Chinese cities surveyed, one city saw higher prices in the new house market, 68 cities witnessed lower prices, while new house prices in the remaining one city were unchanged, all compared to July this year, according to data released by China's National Bureau of Statistics (NBS) on September 18. Based on the NBS data, the highest month-on-month increase in new house prices in Chinese cities in August this year was 0.2 percent and the biggest month-on-month decrease was 2.1 percent.

On the other hand, on year-on-year basis, in August this year 48 cities saw higher new house prices, 19 cities saw lower prices, with prices unchanged in the remaining three cities. The highest year-on-year increase in new house prices in Chinese cities in August was 6.4 percent and the biggest year-on-year decrease was 5.6 percent.

As regards the second-hand house market in China, in August of the current year one city saw higher prices, 67 cities witnessed lower prices, while prices in the remaining two cities were stable, all compared to July this year. The highest month-on-month increase in second-hand house prices in Chinese cities in August was 0.1 percent and the biggest month-on-month decrease was 1.4 percent.

On year-on-year basis, in the second-hand house market in August, 37 cities saw higher prices, 32 cities saw lower prices, while prices remained stable in one city. The highest year-on-year increase in second-hand house prices in Chinese cities in August was 5.2 percent and the biggest year-on-year decrease was 10.5 percent.


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