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Housing Prices of Tier 1 and Tier 2 Cities Further Stabilized in January

Submit Time:11-04-2017 | Zoom In | Zoom Out

Author: | 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 January 2017. In this regard, Liu Jianwei, a senior statistician from the Department of Urban Surveys of the National Bureau of Statistics, gave his interpretation. 

  1. New commercial housing prices fell on a month-on-month basis in 11 of the 15 Tier 1 and hot Tier 2 cities and remained unchanged in three of them 

  As a result of the implementation of real estate regulation and control polices based on local conditions in the 15 Tier 1 and hot Tier 2 cities, the real estate market changed significantly and housing prices continued to stabilize and fall. As to new commercial housing prices in January, 11 cities saw a month-on-month decrease ranging 0.1 to 0.5 percentage point; three cities saw no changes; Guangzhou saw an increase of 0.6%, representing a decline in the month-on-month increase for four months in a row. 

  2. The month-on-month increase in new commercial housing prices basically stopped in Tier 1 and Tier 2 cities, and new commercial housing prices generally stabilized in Tier 3 cities 

  From a month-on-month perspective, the increase in housing prices basically stopped in Tier 1 and Tier 2 cities. According to preliminary calculation, in January, new commercial housing prices continued to remain unchanged in Tier 1 cities; new commercial housing prices rose slightly by 0.1% in Tier 2 cities, down 0.1 percentage point over last month. Housing prices generally stabilized in Tier 3 cities, as evident by the fact that new commercial housing prices rose by 0.4%, the same as last month. 

  From a year-on-year perspective, the increase in housing prices continued to fall in Tier 1 and Tier 2 cities. Specifically, the year-on-year increase in new commercial housing prices in Tier 1 cities continued to decline for four months in a row, down 2.6 percentage points over the previous month; the year-on-year increase in new commercial housing prices in Tier 2 cities continued to decline for two months in a row, down 0.4 percentage point over the previous month. 


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