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All-India House Price Index (HPI) annual growth decreased in Q3:2018-19

May 28, 2019: Today, the Reserve Bank released the quarterly house price index (HPI) (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).

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


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.

All-India House Price Index (HPI) annual growth decreased in Q3:2018-19

Note: HPI is 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.

Source: RBI

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