In July this year, of 70 major Chinese cities surveyed, 29 cities witnessed lower new house prices, with 31 cities seeing higher prices, while new house prices in the remaining 10 cities were unchanged, all compared to June, according to data released by China's National Bureau of Statistics (NBS) on August 18. Based on the NBS data, the biggest month-on-month decrease in new house prices in Chinese cities in July this year was 0.7 percent and the biggest month-on-month increase was 6.3 percent.
On the other hand, on year-on-year basis, in July this year 67 cities saw lower new house prices, with only three seeing higher new house prices. The biggest year-on-year decrease in new house prices in Chinese cities in July was 9.7 percent, while the biggest year-on-year increase was 24.0 percent.
As regards the second-hand house market in China, in July 18 cities saw month-on-month decreases in prices, 39 cities saw month-on-month rises in prices, while prices in the remaining 13 cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in July was 5.3 percent, while the biggest month-on-month decrease was 1.0 percent.
On year-on-year basis, in the second-hand house market, in July 65 cities witnessed lower prices, and five cities saw higher prices. The highest year-on-year increase in second-hand house prices in Chinese cities in July was 24.3 percent and the biggest year-on-year decrease was 11.0 percent.