Housing prices rise slower at 6.7% from 10.4% in top 10 cities in FY18: RBI

Kochi recorded the highest sequential rise in the HPI at 11.2%, while Kolkata recorded a minimal rise of 0.5% in the HPI, for the fourth-quarter ended March 2018

House prices across the top ten cities in the country have grown at 6.7 per cent, on a year-on-year basis, during FY2018, according to the Reserve Bank of India’s All-India House Price Index (HPI).

HPI growth slowed down in FY2018 compared to a HPI growth of 10.4 per cent which was observed during FY2017.

In a statement, the RBI said that the largest “divergences can be observed in city-wise house price movements, in terms of annual growth rates.”

There has been a sequential increase of 0.3 per cent in HPI during the fourth-quarter ended March 2018, according to transaction data surveyed by the central bank across ten major cities. In the previous quarter, that is the third-quarter of FY2018, the HPI grew by 7.2 per cent, indicating a slowing down of house price rise.

Kochi recorded the highest sequential rise in the HPI at 11.2 per cent, while Kolkata recorded a minimal rise of 0.5 per cent in the HPI, for the fourth-quarter ended March 2018.

On the other hand, Delhi’s HPI fell by 3.4 per cent and in Ahmedabad, the HPI fell by 1.9 per cent during the quarter ended March 2018, as compared to the previous quarter.