In November this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities declined by 0.4 percent month on month, 0.1 percentage point faster compared to the decline in October, while decreasing by 1.2 percent year on year, 0.4 percentage points faster compared to the decrease in October 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 5.6 percent, with the pace of the decline 0.4 percentage points faster compared to that recorded in October. In third-tier cities, the year-on-year growth rate of second-hand house prices in November saw a year-on-year decrease of 5.8 percent, with the pace of the decline 0.1 percentage point faster compared to that recorded in October.
