In September this year, of 70 major Chinese cities surveyed, 69 cities witnessed lower prices, while new house prices in the remaining one city were unchanged, all compared to August this year, according to data released by China's National Bureau of Statistics (NBS) on October 24. Based on the NBS data, the lowest month-on-month decrease in new house prices in Chinese cities in September this year was 0.4 percent and the biggest month-on-month decrease was 1.9 percent.
On the other hand, on year-on-year basis, in September this year 58 cities saw lower new house prices, 10 cities saw higher prices, with prices unchanged in the remaining two cities. The highest year-on-year increase in new house prices in Chinese cities in September was 4.9 percent and the biggest year-on-year decrease was 7.9 percent.
As regards the second-hand house market in China, in September of the current year all 70 cities saw month-on-month decreases. The lowest month-on-month decrease in second-hand house prices in Chinese cities in September was 0.5 percent and the biggest month-on-month decrease was 2.0 percent.
On year-on-year basis, in the second-hand house market in September, 52 cities witnessed lower prices, 17 cities saw higher prices, while prices in the remaining one city were stable, all compared to September last year. The highest year-on-year increase in second-hand house prices in Chinese cities in September was 4.3 percent and the biggest year-on-year decrease was 10.4 percent.