In February this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities increased by 4.1 percent year on year, while rising by 0.3 percent month on month. Meanwhile, in second-tier cities the year-on-year growth rate of new house prices in the given month was stable compared to the January growth rate, as announced by China's National Bureau of Statistics (NBS).
In China’s first-tier cities, prices of second-hand house prices in February saw a year-on-year rise of 0.3 percent, 0.1 percentage point lower compared to the year-on-year growth rate recorded in January. In second-tier cities, the year-on-year growth rate of second-hand house prices in February was 0.2 percentage points higher compared to the year-on-year growth rate recorded in January.