In January this year, of 70 major Chinese cities surveyed, 24 cities witnessed lower new house prices, with 38 cities seeing higher prices, while new house prices in the remaining eight cities were unchanged, all compared to December last 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 January this year was 0.8 percent and the biggest month-on-month increase was 4.1 percent.
On the other hand, on year-on-year basis, in January this year 45 cities saw lower new house prices, with only 25 seeing higher new house prices. The biggest year-on-year decrease in new house prices in Chinese cities in January was 4.9 percent, while the biggest year-on-year increase was 52.7 percent.
As regards the second-hand house market in China, in January this year 25 cities saw month-on-month decreases in prices, 37 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 January was 5.7 percent, while the biggest month-on-month decrease was 0.5 percent.
On year-on-year basis, in the second-hand house market in January this year 29 cities witnessed lower prices, and 40 cities saw higher prices, while the average price in the one remaining city was unchanged. The highest year-on-year increase in second-hand house prices in Chinese cities in January was 49.7 percent and the biggest year-on-year decrease was 8.1 percent.