In October this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities indicated a slight decline of 0.1 percent month on month, the same as the month-on-month decline recorded in September, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in October saw a year-on-year decline of 3.2 percent, 0.2 percentage points faster than the declining pace recorded in September. In third-tier cities, the year-on-year growth rate of second-hand house prices in October saw a year-on-year decrease of 4.7 percent, 0.2 percentage points faster than the decrease in September.