Annual Growth In All-India House Price Index (HPI) Continues To Moderate In Q1 Of 2019-20: RBI

The All-India HPI increased by 2.3 per cent on sequential basis (Q1:2019-20 over Q4:2018-19); on a year-on-year basis, however, it extended its moderation into the ninth successive quarter in Q1:2019-20, rising by 3.4 per cent in Q1:2019-20 as against 3.6 per cent in the previous quarter and 5.3 per cent a year ago. Sequentially, HPI growth was highly divergent across cities, with Jaipur recording the highest rise (14.5 per cent) and Kochi recording the maximum contraction [(-)6.4 per cent]. With the exception of Mumbai, all cities recorded an increase in HPI on an annual basis. The annual growth/contraction in HPI ranged from 14.3 per cent (in Chennai) to (-)1.4 per cent (in Mumbai). The Reserve Bank released its quarterly house price index (HPI)1 (base: 2010-11=100) for Q1:2019-20, 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).

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