China has no plans to lift the limitations it set on its property market. At least not yet.

This as Chinese Vice Premier Li Keqiang said the regulations earlier placed on the property market are at a "critical stage," the Xinhua News Agency reported.

The vice premier issued the remarks while visiting the city of Langfang in Hebei province on Friday where he inspected the implementation of the government's affordable housing policies, Xinhua reported.

Li stressed it is too early to abolish the restrictions, and advised federal government should stick to its tightening measures long enough to see actual positive results had been achieved.

In October, 34 cities in a pool of 70 major cities saw declines in new home prices from September, compared with 17 cities in September, China's National Bureau of Statistics (NBS) reported.

Prices of new homes in four of China's major cities, including Beijing, Shanghai, Guangzhou and Shenzhen, saw month-on-month declines after staying untouched for three months, according to Xinhua.

Meanwhile, Li called for increased efforts to develop and "fairly distribute" high-quality yet affordable housing to low-income residents, as these would benefit both the people's livelihood and the economy.

The purchasing control policy has been an effective measure to delay the release of the housing purchasing demand as well as room for various levels of subsidized housing to feed some portions of social need, Chen Sheng, vice president of the China Index Academy, told Xinhua.

China aims to construct 10 million affordable housing units this year. Some 98 per cent had started construction by the end of September, according to data from China's Ministry of Housing and Urban-Rural Development.

House prices in the more affluent tier-one and tier-two cities are likely to fall by 10 per cent to 30 per cent next year, according to a Daiwa Capital Markets analyst's report furnished Bloomberg. Values may decline 5 per cent to 15 per cent in the less affluent tier-three and tier-four cities as more homes are owner-occupied, it said.

Property prices in the world's second-largest economy may decline further next year as the value of real estate projects fall by as much as 40 per cent, according to Financial News, saying liquidity and inventory pressure faced by developers, together with government curbs, will depress prices.