In January this year, of 70 major Chinese cities surveyed, 64 cities witnessed lower new house prices, with two cities seeing higher prices, while new house prices in the remaining four cities were unchanged, all compared to December last year, according to data released by China's National Bureau of Statistics (NBS) on February 17. Based on the NBS data, the biggest month-on-month decrease in new house prices in Chinese cities in January this year was 1.7 percent and the biggest month-on-month increase was 0.3 percent.
On the other hand, on year-on-year basis, in January this year 69 cities saw lower new house prices, while one city witnessed higher prices. The highest year-on-year increase in new house prices in Chinese cities in January was 0.8 percent and the biggest year-on-year decrease was 10.5 percent.
As regards the second-hand house market in China, in January 61 cities saw month-on-month decreases in prices, six cities saw month-on-month rises, while prices in the remaining three cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in January was 0.6 percent, while the biggest month-on-month decrease was 1.9 percent.
On year-on-year basis, in the second-hand house market in January, 67 cities witnessed lower prices, and three cities saw higher prices. The highest year-on-year increase in second-hand house prices in Chinese cities in January was 1.5 percent and the biggest year-on-year decrease was 13.9 percent.