NBS: China's new house prices rise further in December

In December last year, of 70 major Chinese cities surveyed, 65 cities saw higher prices in the new house market, two cities witnessed lower prices, while new house prices in the remaining three cities remained unchanged, all compared to November, according to data released by China's National Bureau of Statistics (NBS). Based on the NBS data, the highest month-on-month increase in new house prices in Chinese cities in December last year was 1.1 percent. On the other hand, on year-on-year basis, in December last 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 December was 21.9 percent.
 
As regards the second-hand house market in China, in December last year 64 cities saw higher prices, five cities witnessed lower prices, while prices in one city remained unchanged, all compared to November. The highest month-on-month increase in second-hand house prices in Chinese cities in December was 0.8 percent. On year-on-year basis, in the second-hand house market in December 69 cities saw higher prices, while one city saw lower prices. The highest year-on-year increase in second-hand house prices in Chinese cities in December was 19.7 percent.