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Housing prices seen inching up

By Wang Xinyuan (Global Times)

09:38, December 04, 2012

Housing prices in large cities continued to rise slightly in November despite the government's continued curbing policy, according to a report released Monday.

It puts policymakers in an awkward situation given that tougher policies could jeopardize the country's fragile economic growth, analysts said.

The average price of newly built residential houses in 100 major cities was 8,791 yuan ($1,406) per square meter in November, up 0.26 percent from October, according to a report released Monday by China Index Academy under, China's largest online real estate portal.

House prices stopped falling and started to rise slightly month-on-month since June, He Tian, a research director with China Index Academy, told the Global Times Monday. The 10 major cities, including Beijing, Shanghai, Guangzhou and Shenzhen, also saw growth in prices of 0.15 percent year-on-year in November, He noted.

According to official statistics, more cities saw a rise in house prices in October than in September, despite the curbing policy for the housing sector.

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