In December last year, of 70 major Chinese cities surveyed, new house prices in first-tier cities increased by 2.8 percent year on year, while rising by 1.3 percent month on month. Meanwhile, in second-tier cities the year-on-year growth rate of new house prices in the given month was 0.3 percentage points lower compared to the November 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 December saw a year-on-year rise of 0.6 percent, 0.2 percentage points higher compared to the year-on-year growth rate recorded in November. In second-tier cities, the year-on-year growth rate of second-hand house prices in December was 0.6 percentage points higher compared to the year-on-year growth rate recorded in November.