In September this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities rose by 0.4 percent month on month, up 0.2 percentage points from the growth recorded in August this year, as announced by China's National Bureau of Statistics (NBS). Meanwhile, in second-tier cities the month-on-month growth rate of new house prices in the given month was 0.9 percent, up 0.1 percentage point from the year-on-year growth rate in August, while in third-tier cities the month-on-month growth rate of new house prices in August was 0.5 percent, 0.5 percentage points slower than in August.
In China’s second-tier cities, prices of second-hand houses in September saw a year-on-year rise of 2.0 percent, indicating the same growth compared to that recorded in August. In third-tier cities, the year-on-year growth rate of second-hand house prices in September was 1.7 percent, 0.1 percentage point slower compared to the year-on-year growth rate in August. New house and second-hand house prices in second-tier cities indicated slower year-on-year growth or unchanged growth for the 17th consecutive month, while in third-tier cities new and second-hand house prices indicated slower or the same year-on-year growth for the 18th consecutive month.