In June this year, of 70 major Chinese cities surveyed, ten cities witnessed lower new house prices, with 55 cities seeing higher prices and prices stable in the five remaining cities, all compared to May 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 June this year was 0.5 percent and the biggest month-on-month increase was 4.9 percent.
On the other hand, on year-on-year basis, in June this year 12 cities saw lower new house prices, with new house prices rising in 57 cities and remaining stable in one city. The biggest year-on-year decrease in new house prices in Chinese cities in June was 3.5 percent, while the biggest year-on-year increase was 47.4 percent.
As regards the second-hand house market in China, in June this year 14 cities saw month-on-month decreases in prices, 48 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 June was 4.3 percent, while the biggest month-on-month decrease was 0.5 percent.
On year-on-year basis, in the second-hand house market in June this year 16 cities witnessed lower prices and 52 cities saw higher prices, while the average price in the two remaining cities was unchanged. The highest year-on-year increase in second-hand house prices in Chinese cities in June was 39.7 percent and the biggest year-on-year decrease was 5.9 percent.