Home prices continue monthly rise

Property prices in major cities continued to rise in November on both a yearly and monthly basis, the National Bureau of Statistics said on Wednesday. Of the 70 major cities monitored by the NBS, only one city -- Wenzhou in Zhejiang province -- saw a price drop year-on-year last month.

Shanghai, with a price increase of 21.9 percent compared with the same period last year, lead the price hike list. Beijing ranked second, with a 21.1 percent growth rate.

On a monthly basis, 66 cities experienced a price increase, with the growth rate capped at 1.3 percent. Prices were flat in three cities.

The situation in the pre-owned property market is almost the same.