All-India house price index moderates to 3.3% in Q1FY25: RBI data

All-India HPI increased by 3.3 per cent (y-o-y) in Q1 2024-25 as compared to 4.1 per cent growth in the previous quarter and 5.1 per cent a year ago, they said

The all-India House Price Index (HPI) moderated to 3.3 per cent in the June quarter of 2024-25 from 5.1 per cent in the year-ago period, according to data released by the Reserve Bank of India on Friday.

The RBI releases HPI-based on transaction-level data received from the registration authorities in 10 major cities.

The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.

"All-India HPI increased by 3.3 per cent (y-o-y) in Q1 2024-25 as compared to 4.1 per cent growth in the previous quarter and 5.1 per cent a year ago; annual HPI growth varied widely across the cities - ranging from a high of 8.9 per cent (Kolkata) to a low of (-)1.7 per cent (Delhi)," the central bank said.

On a sequential (quarter-on-quarter) basis, all-India HPI increased by 1.8 per cent in the first quarter of 2024-25.

Among the ten cities, nine (Mumbai, Delhi, Bengaluru, Lucknow, Kolkata, Chennai, Jaipur, Kanpur and Kochi) recorded a rise in house prices during the latest quarter.