In April this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities edged down by 0.6 percent month on month, down 0.5 percentage points compared to the decline in March, while decreasing by 2.5 percent year on year, 1.0 percentage point higher compared to the decrease in March this year, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in April saw a year-on-year decline of 6.8 percent, with the pace of the decline 0.9 percentage points higher compared to that recorded in March. In third-tier cities, the year-on-year growth rate of second-hand house prices in March saw a year-on-year decrease of 6.6 percent, with the pace of the decrease 0.9 percentage points higher compared to that recorded in March.