Shanghai's benchmark index tracking second-hand housing prices increased 1.3 percent to 1,418 points last month, compared with a 1.2 percent growth in September, the Shanghai Existing Property Index Office reported yesterday. Average prices of pre-owned apartments in the Hongqiao Area of Changning District boasted the highest growth rate of 4.9 percent, jumping from 7,916 yuan (US$953.7) to 8,300 yuan. The office said the central bank's interest rates hike will have little effect on market trading volume.