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.