(Yicai) Dec. 2 -- New home sales jumped in 30 major Chinese cities last month, with key cities leading the recovery, thanks to policies issued by the central and local governments to support the housing market, according to a new report.

New home sales in the cities, including the first-tier ones of Beijing, Shanghai, Guangzhou, and Shenzhen, rose 3 percent last month from October and jumped 20 percent from a year earlier, according to a report by China Real Estate Information. 

Total sales in the four first-tier cities climbed 5 percent on a monthly basis and 57 percent on an annual basis, though Guangzhou’s month-on-month sales dropped, while growth slowed in the other three.

The Shenzhen market performed best among the four, with sales surging 65 percent from a month earlier and doubling from a year ago. More than 7,000 new homes had changed hands in the city by Nov. 27.

Sales in other major cities showed similar signs of stabilizing, with several notching up monthly and yearly growth, while several others saw only a year-on-year rebound, according to the report.

Since September, various government policies have been introduced to stabilize the real estate market, such as easing mortgage rates, lowering down payment requirements, relaxing purchase restrictions, and reducing deed taxes.

Despite the sales rebound in big cities, revenue at China's top 100 developers tumbled 19 percent last month from October and 9.5 percent from a year earlier, according to the latest figures from the China Index Academy.

Sales will likely continue to recover through this month as new supply is expected to increase as builders push to meet their end-of-year targets through promotions, per the CREI’s report.

Editors: Tang Shihua, Martin Kadiev