Moderation in Annual Growth in All-India House Price Index (HPI) continued: RBI

The Reserve Bank released its quarterly house price index (HPI)1 (base: 2010-11=100) for Q2:2019-20, based on transaction level 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 (https://dbie.rbi.org.in/DBIE/dbie.rbi?site=statistics > RealSector > Price&Wages > Quarterly).

Highlights:

The annual growth (y-o-y) in all-India HPI continued to moderate; it stood at 2.8 per cent in Q2:2019-20 as against 3.4 per cent in the previous quarter and 5.7 per cent a year ago.
Barring Mumbai and Delhi, all other cities recorded an increase in HPI on an annual basis.
On a sequential basis (Q2:2019-20 over Q1:2019-20), the all-India HPI increased marginally by 0.2 per cent, with Jaipur recording the highest rise (12.5 per cent) and Kochi recording the maximum contraction [(-)3.0 per cent].
Large variation is HPI growth (y-o-y) was observed, with Kanpur recording the highest rise (18.3 per cent) and Delhi recording the maximum contraction [(-) 2.6 per cent].