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).
The All-India HPI recorded a sequential increase of 1% 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%) and Jaipur recording the maximum contraction [(-)3.1%]. On a year-on-year basis, the all-India HPI recorded a growth of 4.7% in Q3:2018-19 as against 5.7% in the previous quarter and 7.2% 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% (in Kochi) to (-)6.5% (in Kanpur), indicating large divergences in city-wise housing price movements.
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