The price of homes in large Chinese cities continued to rise in November.

All but one of the 70 major cities monitored by the government reported year-on-year increase in new home prices in November, the National Bureau of Statistics said on December 18.

Twenty-six cities reported an annual increase of 10 percent or higher, with only prices in Wenzhou in east China's Zhejiang Province failing to rise.

Shanghai led the race among the 70 cities, with an annual rise of 21.9 percent in November, followed by an increase of 21.1 percent in Beijing, 21 percent in Shenzhen and 20.9 percent in Guangzhou.

New home prices rose month on month in 66 of the 70 cities, compared to 65 in October.