Today, the Reserve Bank 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). 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:

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.

Ajit Prasad
Assistant Adviser

Press Release : 2018-2019/2783

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 (weblink: https://www.rbi.org.in/Scripts/BS_ViewBulletin.aspx) for HPI compilation methodology and the related caveats.