BEIJING, Feb 1 Reuters China39;s new home prices rose in January at the fastest monthly pace in nearly 212 years, according to a survey released on Thursday, following a slew of government support measures and expectations of further relaxation in homebuying policies.

Average prices across 100 cities grew for a fifth consecutive month, with the January monthonmonth gain of 0.15 outpacing the 0.1 increase in December, according to Chinese real estate research firm China Index Academy. It was the fastest rise since a 0.2 gain in August 2021.

The number of cities with monthonmonth price growth stood at 49 in January, up from 47 in December.

China39;s property market ended last year with the equal worst monthly decline in new home prices in nearly nine years at 0.4 in December, according to Reuters calculations based on official data.

It was hit by an unprecedented developer debt crisis after a regulatory crackdown on the sector39;s high leverage in 2020.

Over the past year, the world39;s secondlargest economy has been introducing policies to help revive the industry and restore buying sentiment. This week, two major cities, Shanghai and Suzhou, followed Guangzhou in easing homebuying curbs.

A statebacked property project also received the first development loan under a socalled whitelist mechanism, according to reports in state media.

Currently, as the easing policies in Guangzhou and Shanghai have just been announced, the effects have not yet been reflected in the…