According to data compiled by the National Bureau of Statistics from 70 major cities in China, the average price of new homes fell 2.1 percent in August compared to the same period last year. Prices fell by 1.67% in July.
The number of cities in which new housing prices decreased in August compared to last year, decreased from 22 in July to 21.
Compared to the previous month, the average prices of new residences continued to decrease. Prices, which have been declining for the last 12 months, decreased by 0.29% in August compared to July. In July, there was a 0.11% decrease compared to the previous month.
In August, prices in 19 of 70 cities decreased compared to the previous month.
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