A survey released on Friday shows that prices of new houses in China continued to increase in December for five consecutive months. In nearly 100 cities, a one percent month-on-month increased was noted, according to a property research organization.

Compared with November's prices, the average housing prices last month reached up to 10,980 yuan ($1,690.90) in about 100 big cities in the mainland, according to China Index Academy. The month-on-month increase in December was 0.74 percent in comparison with November's 0.46 percent rise. Whereas on a year-on-year basis, the increase was 4.15 percent.

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With the fluctuating economy, the country's property sector has been put under pressure. New buyers were priced out of the market. Housing price growth in December rose in 51 cities but remained stable in 10 cities. While the number of cities with prices falling declined from 56 in November to 45 in December.

This year, a regular increase of houses' values is anticipated. In line, a disparity of prices between big and small cities is also expected.

A separate report by SouFun revealed that of the property prices of these 100 cities, Shenzhen tops as the most expensive in the real estate market. The average housing price in the city skyrocketed to nearly 40 percent last year. In fact, according to the latest data, the city's population increased from 18 million to 21 million in just two years. Experts suggest that this is because people are attracted to the city, which is home to tech internet giant companies, financial institutions and international banks.

During the third quarter of last year, China recorded its lowest economic performance with a growth of just nearly 7 percent. The country's almost stagnant economic growth in more than two decades is creating concerns across the global market.

So to lessen its property index and sustain the housing market, China will likely propose new standards. During a policy conference last month, China committed to entice property developers to "moderately cut housing prices" and commanded local officials to "revoke obsolete restrictive measures."

The Chinese Index Academy is anticipating that the new initiatives laid at the recently concluded conference will "effectively adjust market supply and demand and further ease pressure on inventory."

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