In July this year, of 70 major Chinese cities surveyed, 62 cities saw higher prices in the new house market, four cities witnessed lower prices, while new house prices in the remaining four cities remained unchanged, all compared to June this year, according to data released by China's National Bureau of Statistics (NBS) on August 18. Based on the NBS data, the highest month-on-month increase in new house prices in Chinese cities in July this year was 2.2 percent.
On the other hand, on year-on-year basis, in July this year 69 cities saw higher new house prices, while just one city saw lower prices. The highest year-on-year increase in new house prices in Chinese cities in July was 18.3 percent.
As regards the second-hand house market in China, in July this year 57 cities saw higher prices, seven cities witnessed lower prices, while prices in six cities remained unchanged, all compared to June this year. The highest month-on-month increase in second-hand house prices in Chinese cities in July this year was 1.4 percent. On year-on-year basis, in the second-hand house market in July this year 67 cities saw higher prices, while three cities saw lower prices. The highest year-on-year increase in second-hand house prices in Chinese cities in July was 15.3 percent.
