China's property market remained stable in January, with home prices edging down slightly across major cities. New residential home prices were down on a yearly basis in 11 of the 15 major cities considered to be the "hottest markets". On a month-on-month basis, Shanghai and Guangzhou saw a 0-point-4 percent decline in January. Beijing saw a slight increase, while Shenzhen saw prices flat with December. For first-tier cities, the growth of second-hand home prices was down 0-point-5 percent compared to last December. The property market in second and third tier cities, showed slower growth, with the growth of new residential housing prices dropping 0-point-3 percentage points, and 0-point-1 percentage points from a month earlier.