In October this year, of 70 major Chinese cities surveyed, 33 cities witnessed lower new house prices, with 27 cities seeing higher prices, while new house prices in the remaining 10 cities were unchanged, all compared to September, according to data released by China's National Bureau of Statistics (NBS) on November 18. Based on the NBS data, the biggest month-on month decrease in new house prices in Chinese cities in October this year was 1.0 percent and the biggest month-on-month increase was 2.1 percent.
On the other hand, on year-on-year basis, in October this year 54 cities saw lower new house prices, with only 16 seeing higher new house prices. The biggest year-on-year decrease in new house prices in Chinese cities in October was 6.5 percent, while the biggest year-on-year increase was 40.5 percent.
As regards the second-hand house market in China, in October 23 cities saw month-on-month decreases in prices, 38 cities saw month-on-month rises in prices, while prices in the remaining nine cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in October was 1.1 percent, while the biggest month-on-month decrease was 0.9 percent.
On year-on-year basis, in the second-hand house market, in October 45 cities witnessed lower prices, and 24 cities saw higher prices, while the average price in the one remaining city was unchanged. The highest year-on-year increase in second-hand house prices in Chinese cities in October was 36.8 percent and the biggest year-on-year decrease was 9.5 percent.