Home prices rise for sixth consecutive month

Home prices in November rose for a sixth consecutive month in major Chinese cities as the country’s housing market continues to recover, The Wall Street Journal reported. Despite the further acceleration from October, analysts said the gains remain at an acceptable level to policy makers, who have fought rising prices for three years. However, the results will add to Beijing’s dilemma of how to encourage economic growth while also stunting excessive growth in home prices. Analysts expect market curbs and restrictions on multiple home purchases to remain in place. “Home-purchase restrictions will remain for some time in part because you need a broader set of investment alternatives before the limits can be lifted,” said Michael Kilbaner, regional director and head of China research at Jones Lang LaSalle (JLL.NYSE, 4J2.FRA).