In October this year, of 70 major Chinese cities surveyed, 69 cities witnessed lower new house prices, while new house prices in the remaining one city were unchanged, all compared to September this year, according to data released by China's National Bureau of Statistics (NBS) on November 18. Based on the NBS data, the lowest month-on-month decrease in new house prices in Chinese cities in October this year was 0.2 percent and the biggest month-on-month decrease was 1.6 percent.
On the other hand, on year-on-year basis, in October this year 67 cities saw lower new house prices, while three cities saw higher prices. The highest year-on-year increase in new house prices in Chinese cities in October was 3.8 percent and the biggest year-on-year decrease was 9.1 percent.
As regards the second-hand house market in China, in October of the current year 64 cities saw month-on-month decreases in prices, two cities saw month-on-month rises, while prices in the remaining four cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in October was 0.3 percent, while the biggest month-on-month decrease was 1.8 percent.
On year-on-year basis, in the second-hand house market in October, 65 cities witnessed lower prices, four cities saw higher prices, while prices in the remaining one city were stable, all compared to October last year. The highest year-on-year increase in second-hand house prices in Chinese cities in October was 3.0 percent and the biggest year-on-year decrease was 10.7 percent.