In December last year, of 70 major Chinese cities surveyed, new house prices in first-tier cities moved sideways month on month, as announced by China's National Bureau of Statistics (NBS) on January 16.
In China’s second-tier cities, prices of second-hand houses in December saw a year-on-year decline of 3.2 percent, holding the same declining pace as compared to that recorded in November last year. In third-tier cities, the year-on-year growth rate of second-hand house prices in October saw a year-on-year decrease of 4.8 percent, holding the same decreasing pace compared to November.