In July this year, of 70 major Chinese cities surveyed, 16 cities witnessed lower new house prices, with 51 cities seeing higher prices and prices stable in the three remaining cities, all compared to June 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 July this year was 1.1 percent and the biggest month-on-month increase was 4.6 percent.
On the other hand, on year-on-year basis, in July this year 11 cities saw lower new house prices, with new house prices rising in 58 cities and remaining stable in one city. The biggest year-on-year decrease in new house prices in Chinese cities in July was 3.8 percent, while the biggest year-on-year increase was 41.4 percent.
As regards the second-hand house market in China, in July this year 12 cities saw month-on-month decreases in prices, 51 cities saw month-on-month rises in prices, while prices in the remaining seven cities remained unchanged. The biggest month-on-month increase in second-hand house prices in Chinese cities in July was 3.2 percent, while the biggest month-on-month decrease was 0.5 percent.
On year-on-year basis, in the second-hand house market in July this year 18 cities witnessed lower prices and 52 cities saw higher prices. The highest year-on-year increase in second-hand house prices in Chinese cities in July was 44.1 percent and the biggest year-on-year decrease was 5.3 percent.