In October this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities increased by 1.2 percent year on year, but remained stable month on month. Meanwhile, in second-tier cities the year-on-year growth rate of new house prices in the given month was 0.1 percentage point lower compared to the September 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 October saw a year-on-year rise of 1.0 percent, 0.3 percentage points lower compared to the year-on-year growth rate recorded in September. In second-tier cities, the year-on-year growth rate of second-hand house prices in October was 0.5 percentage points lower compared to the year-on-year growth rate recorded in September.