In July this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities increased by 0.2 percent year on year, while the new house prices in first-tier cities were up 0.2 percent month on month. Meanwhile, in second-tier cities the year-on-year growth rate of new house prices in the given month remained stable compared to the June 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 July saw a year-on-year rise of 0.5 percent, the year-on-year growth rate of second-hand house prices in July was 0.4 percentage points higher compared to the year-on-year growth rate recorded in June. In second-tier cities, the year-on-year growth rate of second-hand house prices in July was 0.9 percentage points higher compared to the year-on-year growth rate recorded in June.