New home prices across 100 cities in China increased 0.18% month on month in January, easing from a 0.28% rise in December, Reuters reported Sunday, citing property research firm China Index Academy.

The introduction of high-end upgraded housing projects in first- and second-tier cities such as Chengdu, Shanghai, and Hangzhou drove an increase in prices in those areas, the report said, citing the think tank.

Across third- and fourth-tier cities, sellers worked with their existing inventory, driving prices downward on a monthly and yearly basis, the news agency said.

Resale home prices narrowed to a 0.85% jump in January compared with 0.97% in December, Reuters said, citing the research firm.

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