Housing prices in cities continue to moderate, says RBI report

The annual growth in all-India housing price index (HPI) continued to moderate and stood at 2.8 per cent in the second quarter of 2019-20 (Q2FY20) as against 3.4 per cent in the previous quarter and 5.7 per cent a year ago.

 

The index is based on transaction-level data received from housing registration authorities in 10 major cities — Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.

 

“Barring Mumbai and Delhi, all other cities recorded an increase in HPI on an annual basis,” the central bank said in a statement.

 

On a quarter-on-quarter basis, the all-India HPI increased marginally by 0.2 per cent, with Jaipur recording the highest rise (12.5 per cent) and Kochi recording the maximum contraction at -3 per cent.

 

On a year-on-year basis, a large variation was observed in HPI growth, with Kanpur recording the highest rise (18.3 per cent) and Delhi recording the maximum contraction (-2.6 per cent), said the RBI.