Home price growth rate slows

Home prices rose further in November, but the growth rate is slowing as more local governments rolled out tightening measures.

The average home price in 100 major cities monitored by the China Index Academy rose 0.68 percent month-on-month to 10,758 yuan ($1,707) per square meter, the 18th rise in a row since June 2012.

The growth rate, however, is down 0.56 percentage points, the lowest this year, according to the academy.

But on a yearly basis, home prices in the 100 cities rose 10.99 percent last month.

Property prices in key cities, such as Beijing and Shanghai, remained robust, with the average price standing at 18,748 yuan per sq m, up 1.16 percent on October and up 16.56 percent on the same period last year.