Growth of home prices across?31 second tier cities accelerated in June while growth across 35 third tier cities remained stable, data from the National Bureau of Statistics (NBS) showed.
On a yearly basis, prices of new?and resale homes in the 31 second tier cities rose 6.3% and 4.6% in June respectively, 0.9 percentage point and 0.2 percentage point more than May.
Across the 35 third tier cities, prices of new homes in June grew 6% and prices of resale homes grew 4.3% on the year. Year-on-year gains remained flat from May.
Prices of new homes in first tier and the four largest cities in China, namely?Beijing, Shanghai, Shenzhen and Guangzhou, changed little from a year ago. Resale prices grew 0.1% in June after they fell in May.
On a monthly basis, prices of new homes in the four cities gained 0.6% from?May. Prices in Beijing and Shanghai hardly changed while those in Guangzhou and Shenzhen increased 1.9% and 0.3%, respectively. Resale prices in June remained flat from May across all four cities.