I. The Sales Prices of Newly Constructed Residential Buildings (excluding affordable housing) (See Table II)
Comparing with the previous month, among 70 medium and large-sized cities, the sales prices of newly constructed residential buildings declined in 43 cities while that of 21 cities remained at the same level. For 6 cities with increasing prices month-on-month, the increases were within 0.2 percent.
Comparing with the same month of last year, the sales prices of newly constructed residential buildings decreased in 55 cities, 9 cities more comparing with April. For 15 cities with increasing prices month-on-month, the increases were within 1.4 percent. In May, for the cities with increasing prices year-on-year, the increases of 14 cities fell down compared with that in April.
II. Sales Prices of Second-Hand Residential Buildings
Comparing with the previous month, the sales prices of second-hand residential buildings decreased in 30 cities, while that of 22 cities remained at the same level. For 18 cities with increasing prices month-on-month, the increases were within 0.9 percent.
Comparing with the same month of last year, the sales prices of second-hand residential buildings decreased in 58 cities, 2 cities more comparing with April, 1 city remained at the same level, 11 cities increased, and the increases were within 2.9 percent. In May, for the cities with increasing prices year-on-year, the increases of 9 cities fell down compared with that in April.
Annotations:
1. The data of newly constructed residential buildings in 70 cities are calculated based on the network transaction records data.
2. Since January 2011, NBS started to implement “Survey Program on Sales Prices of Residential Buildings”. In October 2011, 70 large and medium cities submitted network transaction records. Since the initial time of network transaction records submitted in each city is not synchronized, hence, before October 2012, part of the city’s data with historical data is not entirely comparable.
3. The calculation of year-on-year index. Due to the transaction records of network contracts started to report since October 2012, the year-on-year data under the same scope can not be calculated. In order to sustain the continuity and stability for the calculation on the year-on-year data, NBS adopts technical methods on the calculation of year-on-year data, based on the concerning statistical data on housing price in 2010 and transaction records in 2011, according to the mathematics relations between year-on-year and month-on-month. The formula is:
P201201-P201205 stands for price in January and May, 2012. P201105-P201112 stands for price in May to December, 2011.
4. The newly constructed residential buildings includes affordable housing, the newly constructed commercial residential buildings excludes affordable housing.
5. “-” in table denotes no deal record this month.
