Home prices continue to rise in November

Urban housing prices climbed further last month, with the cost of buying a newly built residence surging by more than 20 percent in four major cities, the National Bureau of Statistics said on Wednesday.

Of the 70 major cities monitored by the NBS, there was only one - Wenzhou, Zhejiang province - where prices declined year-on-year.

Shanghai, with an increase of 21.9 percent, led the list. Beijing ranked second, with a 21.1 percent gain, followed by Shenzhen (21 percent) and Guangzhou (20.9 percent).