In June this year, of 70 major Chinese cities surveyed, new house prices in first-tier cities edged down by 0.5 percent month on month, down 0.2 percentage points compared to the decline in May this year, while decreasing by 3.7 percent year on year, 0.5 percentage point higher compared to the decrease in May, as announced by China's National Bureau of Statistics (NBS).
In China’s second-tier cities, prices of second-hand houses in June saw a year-on-year decline of 7.9 percent, with the pace of the decline 0.4 percentage points higher compared to that recorded in May. In third-tier cities, second-hand house prices in June saw a year-on-year decrease of 7.7 percent, with the pace of the decrease 0.4 percentage points higher compared to that recorded in May.