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New home prices in China’s four tier-one cities grew by 0.3% in July from the previous month, slowing by 0.2 percentage point in June, while second-hand home prices in the cities grew by 0.2% on month in July, compared to 0.1% growth in the prior month, according to the National Bureau of Statistics (NBS).
On a year-on-year basis, new home prices in the four cities grew by 3.1% in July and second-hand home prices grew by 0.9%, both slowing by 0.2 percentage points from the prior month, showed the data.
New home prices in China’s tier-two cities remained unchanged in July from the previous month, compared to 0.1% gain in June, while second-hand home prices in the cities fell by 0.2% on month in July, compared to 0.1% growth in the prior month, according to the NBS.
On a year-on-year basis, new home prices in tier-two cities fell by 0.5% in July and second-hand home prices fell by 2.5%, expanding by 0.3 and 0.4 percentage point from the prior month, showed the data.
In smaller tier-three cities, new home and second-hand home prices both fell 0.3% in July from the previous month, unchanged from the declines in June, showed the data.
On a year-on-year basis, new home prices and second-hand home prices in the tier-three cities declinedfell by 3.2% and 3.9% in July, expanding by 0.4 and 0.2 percentage points from the month before, according to the NBS.