In July this year, of 70 major Chinese cities surveyed, two cities saw higher prices in the new house market, 64 cities witnessed lower prices, while new house prices in the remaining four cities were unchanged, all compared to June this year, according to data released by China's National Bureau of Statistics (NBS) on August 18. Based on the NBS data, the highest month-on-month increase in new house prices in Chinese cities in July this year was 0.2 percent and the biggest month-on-month decrease was 2.5 percent.
On the other hand, on year-on-year basis, in July this year 65 cities saw higher new house prices, three cities saw lower prices, with prices unchanged in the remaining two cities. The highest year-on-year increase in new house prices in Chinese cities in July was 7.2 percent and the biggest year-on-year decrease was 4.9 percent.
As regards the second-hand house market in China, in July of the current year one city saw higher prices, 65 cities witnessed lower prices, while prices in the remaining four cities were stable, all compared to June this year. The highest month-on-month increase in second-hand house prices in Chinese cities in July was 0.1 percent and the biggest month-on-month decrease was 1.5 percent.
On year-on-year basis, in the second-hand house market in July 51 cities saw higher prices, 15 cities saw lower prices, while prices remained stable in four cities. The highest year-on-year increase in second-hand house prices in Chinese cities in July was 7.4 percent and the biggest year-on-year decrease was 10.2 percent.