In June this year, of 70 major Chinese cities surveyed, 34 cities witnessed lower new house prices, with 27 cities seeing higher prices, while new house prices in the remaining nine cities were unchanged, all compared to May, according to data released by China's National Bureau of Statistics (NBS) on July 19. Based on the NBS data, the biggest month-on-month decrease in new house prices in Chinese cities in June this year was 0.5 percent and the biggest month-on-month increase was 7.2 percent.
On the other hand, on year-on-year basis, in June this year 68 cities saw lower new house prices, with only two seeing higher new house prices. The biggest year-on-year decrease in new house prices in Chinese cities in June was 9.8 percent, while the biggest year-on-year increase was 15.9 percent.
As regards the second-hand house market in China, in June 20 cities saw month-on-month decreases in prices, 42 cities saw month-on-month rises in prices, while prices in the remaining eight cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in June was 6.9 percent, while the biggest month-on-month decrease was 0.8 percent.
On year-on-year basis, in the second-hand house market, in June 66 cities witnessed lower prices, and four cities saw higher prices. The highest year-on-year increase in second-hand house prices in Chinese cities in June was 17.3 percent and the biggest year-on-year decrease was 11.4 percent.