comments and feedback

Housing Prices Fell or Remained Unchanged on a QoQ Basis in Most Tier 1 and Hot Tier 2 Cities in the Second Half of November

Submit Time:21-02-2017 | Zoom In | Zoom Out

Author:Liu Jianwei | Source:National Bureau of Statistics

Abstract:

The National Bureau of Statistics released today statistical housing sales prices of 70 large- and medium-sized cities. In this regard, Liu Jianwei, a senior statistician from the Department of Urban Surveys of the National Bureau of Statistics, gave his interpretation. 

1. Housing prices fell or remained unchanged on a QoQ basis in 11 cities of Tier 1 and hot Tier 2 cities in the second half of November 

To deeply reflect the recent changes in the real estate market, the National Bureau of Statistics collected statistical data about not only housing prices of 70 large- and medium-sized cities in November, but also changes in housing prices of 15 Tier 1 cities and 11 hot Tier 2 cities in the second half of November. The results showed that, as a result of the implementation of regulation and control polices based on local conditions, the real estate markets in 15 Tier 1 and hot Tier 2 cities cooled rapidly and the trend of housing prices was stabilized. Comparing new commercial housing prices of Tier 1 and hot Tier 2 cities in the second half of November with those in the first half of November, nine cities saw a QoQ decrease by 0.1 to 0.9 percentage point; two cities saw no QoQ change; the other four cities saw a QoQ increase by 1% or less. 

  

2. In November, among the 70 large- and medium-sized cities, housing prices of Tier 1 and Tier 2 cities continued to exhibit positive changes, and those of Tier 3 cities were stable on the whole 

In November, among the 70 large- and medium-sized cities, the number of cities where new commercial housing prices and second-hand housing prices rose on a QoQ basis decreased respectively by 7 and 8 over the previous month; the number of cities where new commercial housing prices and second-hand housing prices fell on a QoQ basis increased respectively by 4 and 7 over the previous month. 

From the perspective of cities in different tiers, housing prices of Tier 1 and Tier 2 cities continued to show positive changes in November. Housing prices of Tier 1 cities remained basically the same on a QoQ basis. According to preliminary calculation, in November, new commercial housing prices and second-hand housing prices of Tier 1 cities rose by 0.1% and remained unchanged, respectively, down 0.4 and 0.6 percentage point over October. The QoQ increase in the housing prices of Tier 2 cities continued to fall. In November, new commercial housing prices and second-hand housing prices of Tier 2 cities rose by 0.4% and 0.3%, respectively, down 0.9 and 0.5 percentage point over October. Housing prices of Tier 3 cities were stable on the whole. In November, new commercial housing prices and second-hand housing prices of Tier 3 cities rose by 0.8% and 0.4%, respectively, down 0.1 and 0.1 percentage point over October. In addition, the year-on-year increase in new commercial housing prices and second-hand housing prices of Tier 1 cities declined for two months in a row, and the year-on-year increase in second-hand housing prices of Tier 2 cities began to fall this month. 


Related Articles