In September of this year, of the 70 major Chinese cities in which the study was conducted, new housing prices in first-tier cities decreased by 0.3 percent month-on-month, while simultaneously decreasing by 0.7 percent year-on-year, increasing by 0.2 percentage points and decreasing by 0.2 percentage points compared with the corresponding decrease recorded in August of this year, as announced by the National Bureau of Statistics of China (NBS).
In China's second-tier cities, prices for second-hand home sales fell 5.0 percent in September compared with the same period last year, while the rate of decline was 0.2 percentage points slower than the pace recorded in August. In third-tier cities, the year-on-year increase in prices for used housing in September decreased by 5.7 percent compared to the same period last year, while the rate of decline was 0.3 percentage points slower compared to the pace recorded in August.
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