The average price of residential property across one hundred Chinese cities increased in both on-month and on-year terms in July.
The average new build residential property price for 100 Chinese cities monitored was 14,948 yuan per square metre in the month of July according to figures released by the Chinese Index Academy (中国指数研究院).
The July price reading marks a 0.38% increase compared to the previous month for an acceleration of 0.01 percentage points compared to June, as well as a year-on-year rise of 3.83%, for a deceleration of 0.04 percentage points.
Out of 100 Chinese cities monitored 62 posted on-month price increases in July, 33 saw on-month declines, while 5 held steady with June.
The median price for new build residential property in July was 9272 yuan per square metre, for an on-month rise of 0.14% and a YoY rise of 5.29%.
The average new build residential property price for ten major cities including Beijing and Shanghai was 27,058 yuan per square metre, for an on-month increase of 0.34% and a YoY rise of 2.45%.