The average new home price per square meter in a sample of 100 cities rose 0.46 percent on month to 10,899 yuan in November, 0.16 percentage point higher than the figure in the previous month, according to a survey released by the China Index Academy (CIA) on Tuesday.
The average new house price per square meter rose 2.93 percent on yearly basis in November, 0.86 percentage point higher than the figure in October. Of those 100 cities, 41 saw month-on-month home price growth, while 56 cities posted declines in November.
Meanwhile new home price of 34 cities saw year-on-year growth. CIA said that the home prices in the first tier and second tier cities were likely to continue to rise due to increasing demand and high price land contraction.
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