In January this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities rose by 0.6 percent month on month, 0.3 percentage points faster than the growth recorded in December last year, as announced by China's National Bureau of Statistics (NBS). Meanwhile, in second-tier cities the month-on-month growth rate of new house prices in the given month was 0.4 percent, 0.3 percentage points faster than the growth recorded in December, while in third-tier cities the month-on-month growth rate of new house prices in January was 0.2 percent, 0.1 percentage point faster than in December.
In China’s second-tier cities, prices of second-hand houses in January saw a year-on-year rise of 2.5 percent, 0.3 percentage points higher compared to that recorded in December. In third-tier cities, the year-on-year growth rate of second-hand house prices in January was 1.5 percent, 0.1 percentage point bigger compared to the year-on-year growth rate in December.