Nanjing’s new residential house price rose 0.1% month on month and fell 1.4% year on year, according to statics released by the National Bureau of Statistics (NBS) on January 18th.
The NBS released statistics of 70 large & medium sized cities’ new residential house prices in December, 2017.
The figure shows that Nanjing’s new residential house price has increased for the first time in a year.
According to the NBS, the new residential house price started to decrease year-on-year since December, 2016. Figures of the past 12 months all fell compared to the earlier year except June and September, which remained the same.
Meanwhile, the new residential house price of Nanjing has fallen for consecutive 3 months year-on-year starting from October, 2017.
However, the second-hand residential house price of Nanjing doesn’t increase. The second-hand residential price in December, 2017 fell 0.2% month-on-month and retreated 1.3% year-on-year. In 2017, second-hand residential house prices of February and June went up month-on-month; the price in May remained the same; and the prices of the other 8 months all dipped month-on-month. Meanwhile, the second-hand residential prices decreased year-on-year from January’s 32% to December’s 1.3%.
"Monthly growth in the country's 15 first-tier and major second-tier cities have slowed and house prices have stabilized as local governments' tightening measures took effect," said NBS statistician Liu Jianwei.
According to the NBS, new residential house prices in second-tier cities rose 0.2 percent on a monthly basis, retreating 0.2 percentage points from the growth seen in November.
