BEIJING Dec 19 Average new home prices in
China's 70 major cities rose 12.6 percent in November from a
year earlier, accelerating slightly from a 12.3 percent increase
in October, an official survey showed on Monday.
Compared with a month earlier, home prices rose 0.6 percent,
slowing from October's 1.1 percent, according to Reuters
calculations from data issued by the National Bureau of
Shenzhen, Shanghai and Beijing prices rose 27.9 percent,
29.0 percent and 26.4 percent, respectively, from a year
earlier, but their monthly pace slowed significantly as local
governments' tightening measures took effect.
China has depended on a surging real estate market and
government stimulus to drive growth this year, but policymakers
have become concerned that property frenzy will fuel price
bubbles and risk a market crash.
Government curbs seem to be working, with home sales and new
property investment slowing significantly in
(Reporting by Beijing Monitoring Desk and Yawen Chen; Editing
by Shri Navaratnam)