RBI has released the quarterly house price index (HPI)1 (base: 2010-11=100) for Q3:2018-19, based on transactions data received from housing registration authorities in ten major cities (viz., Ahmedabad, Bengaluru, Chennai, Delhi,Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai)
Quarterly Growth:
-> The All-India HPI recorded a sequential increase of 1.0 per cent in Q3:2018-19 over Q2:2018-19.
-> Large variation in HPI growth across cities was observed, with Kochi recording the highest rise (8.5 per cent) and Jaipur recording the maximum contraction [(-)3.1 per cent].
Annual Growth:
-> On a year-on-year basis, the all-India HPI recorded a growth of 4.7 per cent in Q3:2018-19 as against 5.7 per cent in the previous quarter and 7.2 per cent a year ago.
-> Except Kanpur, all other cities recorded a rise in housing prices on an annual basis.
-> The annual growth/contraction in HPI ranged from 28.8 per cent (in Kochi) to (-)6.5 per cent (in Kanpur), indicating large divergences in city-wise housing price movements.
