All-India House Price Index slows to 2% in Q1, shows RBI data

The growth in all-India House Price Index (HPI) slowed to 2 per cent in the first quarter this fiscal against 2.8 per cent in the year-ago period, according to RBI data released on Tuesday.

The Reserve Bank releases a quarterly house price index (HPI) based on transaction-level data received from housing registration authorities in ten major cities. The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.

"All-India HPI recorded 2.0 per cent annual growth (y-o-y) in Q1:2021-22 as compared with 2.7 per cent growth in the previous quarter and 2.8 per cent a year ago," the central bank said in a release.

The HPI growth varied widely across the cities. It ranged from an expansion of 8.8 per cent (Ahmedabad) to a contraction of (-) 5.1 per cent (Chennai).

On a sequential or quarter-on-quarter basis, the all-India HPI registered a 0.5 per cent growth in the April-June period of 2021-22.

Mumbai, Delhi, Chennai, Kanpur and Lucknow recorded a sequential decline in HPI, whereas it increased in the other five cities.