In February this year, of 70 major Chinese cities surveyed, 15 cities witnessed lower new house prices, with 47 cities seeing higher prices, while new house prices in the remaining eight cities were unchanged, all compared to January this year, according to data released by China's National Bureau of Statistics (NBS). Based on the NBS data, the biggest month-on month decrease in new house prices in Chinese cities in February this year was 0.7 percent and the biggest month-on-month increase was 3.6 percent.
On the other hand, on year-on-year basis, in February this year 37 cities saw lower new house prices, with only 32 seeing higher new house prices. The biggest year-on-year decrease in new house prices in Chinese cities in February was 3.9 percent, while the biggest year-on-year increase was 57.8 percent.
As regards the second-hand house market in China, in February this year 28 cities saw month-on-month decreases in prices, 34 cities saw month-on-month rises in prices, while prices in the remaining eight cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in February was 6.7 percent, while the biggest month-on-month decrease was 1.1 percent.
On year-on-year basis, in the second-hand house market in February this year 26 cities witnessed lower prices and 41 cities saw higher prices, while the average prices in the three remaining cities were unchanged. The highest year-on-year increase in second-hand house prices in Chinese cities in February was 54.2 percent and the biggest year-on-year decrease was 7.4 percent.