In August this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities declined by 0.1 percent month on month, while decreasing by 0.9 percent year on year, down 0.1 percentage point and 0.2 percentage points compared to the respective declines in July this year, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in August saw a year-on-year decline of 5.2 percent, with the pace of the decline was 0.4 percentage points slower compared to that recorded in July. In third-tier cities, second-hand house prices in August saw a year-on-year decrease of 6.0 percent, with the pace of the decrease 0.4 percentage points slower compared to that recorded in July.