In August this year, of 70 major Chinese cities surveyed, four cities witnessed lower new house prices, with 64 cities seeing higher prices and prices stable in the two remaining cities, all compared to July 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 August this year was 0.3 percent and the biggest month-on-month increase was 5.6 percent.
On the other hand, on year-on-year basis, in August this year six cities saw lower new house prices, with new house prices rising in 62 cities and remaining stable in two cities. The biggest year-on-year decrease in new house prices in Chinese cities in August was 3.8 percent, while the biggest year-on-year increase was 44.3 percent.
As regards the second-hand house market in China, in August this year nine cities saw month-on-month decreases in prices, 57 cities saw month-on-month rises in prices, while prices in the remaining four cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in August was 4.5 percent, while the biggest month-on-month decrease was 0.4 percent.
On year-on-year basis, in the second-hand house market in August this year 16 cities witnessed lower prices, 53 cities saw higher prices, while price in the remaining one city remained unchanged. The highest year-on-year increase in second-hand house prices in Chinese cities in August was 46.9 percent and the biggest year-on-year decrease was 4.4 percent.