In July this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities declined by 0.2 percent month on month, while decreasing by 1.1 percent year on year, down 0.1 percentage point and 0.3 percentage points compared to the declines in June this year, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in July saw a year-on-year decline of 5.6 percent, with the pace of the decline was 0.2 percentage points slower compared to that recorded in June. In third-tier cities, the year-on-year growth rate of second-hand house prices in July saw a year-on-year decrease of 6.4 percent, with the pace of the decrease 0.3 percentage points slower compared to that recorded in June.
