In November this year, of 70 major Chinese cities surveyed, 67 cities witnessed lower new house prices, while new house prices in the remaining three cities were unchanged, all compared to October this year, according to data released by China's National Bureau of Statistics (NBS) on December 18. Based on the NBS data, the lowest month-on-month decrease in new house prices in Chinese cities in October this year was 0.1 percent and the biggest month-on-month decrease was 1.4 percent.
On the other hand, on year-on-year basis, in November this year 68 cities saw lower new house prices, while two cities saw higher prices. The highest year-on-year increase in new house prices in Chinese cities in November was 3.0 percent and the biggest year-on-year decrease was 9.9 percent.
As regards the second-hand house market in China, in November of the current year 58 cities saw month-on-month decreases in prices, six cities saw month-on-month rises, while prices in the remaining six cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in November was 1.2 percent, while the biggest month-on-month decrease was 2.0 percent.
On year-on-year basis, in the second-hand house market in November, 67 cities witnessed lower prices, and three cities saw higher prices, all compared to November last year. The highest year-on-year increase in second-hand house prices in Chinese cities in November was 2.7 percent and the biggest year-on-year decrease was 11.0 percent.