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All-India House Price Index (HPI) Annual Growth - Q2:2017-18

On Dec 29, 2017, the Reserve Bank released the quarterly house price index (HPI) (see note #1) (base: 2010-11=100) for Q2:2017-18, based on transactions data received from housing registration authorities in ten major cities (viz., Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi).

Time series data on All-India and city-wise HPI are available on the Database of Indian Economy (DBIE) portal  > RealSector > Price&Wages > Quarterly.


- The All-India HPI recorded a sequential increase (i.e., Q2:2017-18 over Q1:2017-18) of 0.4 per cent, with six of the ten cities recording a rise in the latest quarter.

City-wise, large variances were observed in sequential terms, with Kochi recording the highest rise (20.3 per cent) and Bengaluru and Ahmedabad recording the maximum contractions [(-)2.9 per cent each].

The all-India HPI recorded growth of 7.3 per cent on annual basis (i.e., Q2:2017-18 over Q2:2016-17) as against 8.7 per cent observed in the previous quarter and 7.7 per cent a year ago; except Chennai, all other cities recorded a rise in housing price.

The annual growth in HPI ranged from 29.7 per cent (in Kanpur) to (-)7.0 per cent (in Chennai), indicating large divergence in city-wise housing price movements.

House Price Index (HPI) India

Note #1
Compiled in the Statistical Analysis Division of the Department of Statistics and Information Management, Reserve Bank of India, Mumbai. Reference may be made to the article “House Price Index: 2010-11 to 2013-14” in October 2014 issue of the RBI Bulletin for HPI compilation methodology and the related caveats.

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