In January this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities edged down by 0.3 percent month on month, while decreasing by 0.5 percent year on year, up 0.4 percentage points compared to the change in December last year, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in January saw a year-on-year decline of 4.4 percent, with the pace of the decline 0.4 percentage point faster compared to that recorded in December. In third-tier cities, the year-on-year growth rate of second-hand house prices in October saw a year-on-year decrease of 4.5 percent, with the the pace of the decrease 0.3 percentage point faster compared to that recorded in December.