According to Reuters calculations based on data from China's National Bureau of Statistics (NBS), average new home prices in 70 major cities climbed at an annual rate of 2.5% in January, after a 1.6% gain in December.

The main contributor was Shenzhen, where home prices jumped by 51.9% year-on-year in January.

On a monthly base, house prices increased in 38 of 70 cities, prices slid in 24 cities, while prices remained unchanged in 8 cities.