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All-India House Price Index (HPI) Annual Growth in Q2:2018-19

The Reserve Bank recently (Feb 06, 2019) released the quarterly house price index (HPI) (base: 2010-11=100) for Q2:2018-19, 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 on All-India and city-wise HPI are available in the Database of Indian Economy (DBIE portal > Statistics > Real Sector > Price & Wages > Quarterly).

Highlights:

Quarterly Growth:

> The All-India HPI recorded a sequential increase of 0.8 per cent in Q2:2018-19 over Q1:2018-19.

> City-wise, large variance was observed, with Chennai recording the highest rise (6.2 per cent) and Kanpur recording the maximum contraction [(-) 5.6 per cent].

Annual Growth:

> On a year-on-year basis, the all-India HPI recorded a growth of 5.7 per cent in Q2:2018-19 as against 5.3 per cent in the previous quarter and 7.4 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 20.8 per cent (in Kochi) to (-) 3.0 per cent (in Kanpur), indicating large divergences in city-wise housing price movements.

All-India House Price Index (HPI) Annual Growth in Q2:2018-19

Source: RBI

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