In October this year, of 70 major Chinese cities surveyed, 65 cities saw higher prices in the new house market, two cities witnessed lower prices, while new house prices in the remaining three cities remained unchanged, all compared to September this year, according to data released by China's National Bureau of Statistics (NBS) on October 18. Based on the NBS data, the highest month-on-month increase in new house prices in Chinese cities in October this year was 1.3 percent.
On the other hand, on year-on-year basis, in October 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 October was 21.4 percent.
As regards the second-hand house market in China, in October this year 62 cities saw higher prices, two cities witnessed lower prices, while prices in six cities remained unchanged, all compared to September this year. The highest month-on-month increase in second-hand house prices in Chinese cities in October this year was 1.1 percent. On year-on-year basis, in the second-hand house market in October this year 68 cities saw higher prices, while two cities saw lower prices. The highest year-on-year increase in second-hand house prices in Chinese cities in October was 19.0 percent.