Fresh data from China's National Bureau of Statistics shows that housing prices in major cities gained ground in December.
Thirty-nine out of 70 major cities, saw the price of new homes rise above November rates. However, prices in the second and third-tier cities remained flat, with 27 cities seeing a price decline. On a year-on-year basis, home prices rose 7.7 percent in December, versus 6.5 percent in November.
Analysts say favorable policies, such as interest rate and down payment cuts, are helping to buoy the market. Chinese government has advocated speeding up the inventory turnover of the housing sector, and analysts say more policies are expected to come.
