Fresh data on China's property market has been released by the National Bureau of Statistics, indicating slight price increases over the month of October but an overall drop for the year.
New home prices rose in fewer than half the cities monitored by the government in October, compared to a month earlier. Out of the 70 cities monitored, 17 saw decreased prices, 18 remained steady, and 35 saw higher prices. The price increase in these cities is minimal, all gaining less than 0.5 percent.
On a year-on-year basis, 56 cities saw home prices drop, 2 remained steady, while 12 saw prices increase. The price increase in these cities is less than 1.5 percent compared to October 2011.
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