In November this year, the average prices of new residential housing in 100 major cities in China decreased by 0.38 percent month on month to RMB 10,589 ($1,724.6) per square meter, indicating a month-on-month decline for the seventh consecutive month, as announced by the China Index Academy, a Beijing-based real estate research institute. The month-on-month decrease in average prices recorded in October this year was 0.40 percent. Of the 100 cities surveyed in October, 23 cities saw increases in residential housing prices, 76 cities witnessed declines, while prices in one city remained stable, all on month-on-month basis.
On year-on-year basis, in November this year average new residential housing prices in the 100 major cities in China declined by 1.57 percent, compared to a 0.52 percent decline in the year-on-year growth rate in October this year.
Furthermore, the average residential housing price in the 10 biggest cities in China in November this year was RMB 18,946 ($3,085.7) per square meter, up 0.07 percent month on month and increasing by 1.06 percent year on year.