In October this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities declined by 0.3 percent month on month, the same as the month-on-month decline in September, while decreasing by 0.8 percent year on year, 0.1 percentage point faster compared to the decrease in September this year, 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 5.2 percent, with the pace of the decline was 0.2 percentage points faster compared to that 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 5.7 percent, the same as the decrease recorded in September.
