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Chinese home price rises speed up in Dec.: survey

BEIJING--Increases in Chinese home prices accelerated further in December, an independent survey showed on Tuesday, while showing some signs of stabilization as authorities fine-tune policies to keep them in check.

The average price of a new home in 100 major cities rose 11.51 percent year-on-year to 10,833 yuan (US$1,789) per square meter, according to the China Index Academy, which compiled the survey.

That outpaced gains of 10.99 percent in November, 10.69 percent in October and 9.48 percent in September, said the academy, the research unit of the real estate website operator Soufun.

Prices in December also rose 0.7 percent from the previous month, the data showed, in line with November's 0.68 percent gain.

“Market expectations have become stabilized” following further measures by some cities to rein in prices, the academy said, elaborating on why the month-on-month figure showed a steadying trend.

Beijing led the rise in the average cost of a new home among the 10 biggest Chinese cities in December, with the average price jumping 28.3 percent year-on-year to 31,465 yuan per square meter, the data showed. Prices in the capital gained 0.4 percent from November.

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