In August this year, of 70 major Chinese cities surveyed, 66 cities saw higher prices in the new house market, two cities witnessed lower prices, while new house prices in the remaining two cities remained unchanged, all compared to July this year, according to data released by China's National Bureau of Statistics (NBS) on September 18. Based on the NBS data, the highest month-on-month increase in new house prices in Chinese cities in August this year was 1.7 percent.
On the other hand, on year-on-year basis, in August this year 69 cities saw higher new house prices, while just one city saw lower prices. The highest year-on-year increase in new house prices in Chinese cities in August was 19.3 percent.
As regards the second-hand house market in China, in August this year 58 cities saw higher prices, five cities witnessed lower prices, while prices in seven cities remained unchanged, all compared to July this year. The highest month-on-month increase in second-hand house prices in Chinese cities in August this year was 1.6 percent. On year-on-year basis, in the second-hand house market in August 68 cities saw higher prices, while two cities saw lower prices. The highest year-on-year increase in second-hand house prices in Chinese cities in August was 16.4 percent.