Property prices continue to rise in October

Property prices in China's major cities continued to pick up in October, the National Bureau of Statistics (NBS) said on Monday.

Among 70 major cities monitored by NBS, only one city-Wenzhou in East China's Zhejiang province- saw prices drop year-on-year last month.

Shanghai, with a 21.4 percent increase from the same period last year, led the price hike list. Beijing ranked second, with a 21.2 percent jump.

On a monthly basis, 65 cities experienced a price increase, with the growth rate capped at 1.3 percent. Prices were flat in three cities and dropped in two cities.

The situation in the pre-owned home market is almost the same.