In December last year, of 70 major Chinese cities surveyed, new house prices in first-tier cities edged down by 0.4 percent month on month, while decreasing by 0.1 percent year on year, shifting from a year-on-year rise of 0.3 percent recorded in November, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in December saw a year-on-year decline of 4.0 percent, with the declining pace 0.4 percentage points faster compared to that recorded in November. In third-tier cities, second-hand house prices in December saw a year-on-year decrease of 4.2 percent, with the decreasing pace 0.3 percentage points faster compared to that recorded in November.