Mainland housing boom continues
Prices climb in the largest number of mainland cities for 20 months as the thriving market keeps rising, despite fears of cooling measures
More mainland cities saw home prices rise last month, leading to concerns there could be further government measures to cool the housing market.
Prices climbed in the most cities in 20 months with 54 of the 70 cities reporting price gains, according to data tracked by the National Bureau of Statistics. This compared with 53 in November.
Prices fell in eight cities, according to the government's official data.
"In the light of the rise in prices and sales volume in the past two months, the government could introduce a new round of measures to cool off prices again," said Zhang Dawei, the research director at Centaline China.
Home-seekers have been returning in anticipation of a better market outlook, according to Zhang.
The biggest price rise in new private homes was in Guangzhou, with a 1.2 per cent increase from November. It was followed by Shenzhen's 1.1 per cent increase. New home prices in Beijing and Shanghai rose 1 per cent and 0.7 per cent respectively.
"Strong sales in the past several months have turned home buyers more optimistic on the housing price outlook. As a result, an increased number are preparing to buy a home sooner rather than later," said Alan Jin, a property analyst at Mizuho Securities Asia.