Housing price index records slower annual growth in Q4, says RBI

All India house price index (HPI) recorded a slower annual growth (year-on-year) of 1.8 per cent in Q4Fy22 compared to 3.1 per cent in the previous quarter (Q3Fy22) and 2.7 per cent a year ago (Q4Fy21).

The y-o-y movements in HPI varied widely across the cities - ranging from a growth of 19.2 per cent (Kolkata) to a contraction of 11.3 per cent (Bengaluru), Reserve Bank of India said in a statement.

On a sequential (q-o-q) basis, all India HPI registered a contraction of 1.1 per cent in Q4:2021-22; only Kolkata, Chennai and Kanpur recorded sequential growth; whereas the index contracted for the remaining cities, with Bengaluru recorded the highest sequential contraction of 11.1 per cent.

The central bank released its quarterly house price index (HPI) for Q4Fy22 based on transaction-level data received from the housing registration authorities in ten major cities. These cities are - Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.