In December last year, of 70 major Chinese cities surveyed, 27 cities witnessed lower new house prices, with 39 cities seeing higher prices, while new house prices in the remaining four cities were unchanged, all compared to November last year, according to data released by China's National Bureau of Statistics (NBS). Based on the NBS data, the biggest month-on month decrease in new house prices in Chinese cities in December last year was 0.9 percent and the biggest month-on-month increase was 3.2 percent.
On the other hand, on year-on-year basis, in December last year 49 cities saw lower new house prices, with only 21 seeing higher new house prices. The biggest year-on-year decrease in new house prices in Chinese cities in December was 5.3 percent, while the biggest year-on-year increase was 47.5 percent.
As regards the second-hand house market in China, in December last year 24 cities saw month-on-month decreases in prices, 37 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 December was 3.3 percent, while the biggest month-on-month decrease was 0.5 percent.
On year-on-year basis, in the second-hand house market in December last year 34 cities witnessed lower prices, and 35 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 December was 42.6 percent and the biggest year-on-year decrease was 8.6 percent.