The all-India House Price Index (HPI) declined by 1.2 per cent on a sequential basis (Q4:2018-19 over Q3:2018-19), according to Reserve Bank of India data. Large variation in HPI growth across cities was observed, with Bengaluru recording the highest rise (5.3 per cent) and Jaipur recording the maximum contraction [(-)7.7 per cent] on a sequential basis. The Reserve Bank released the quarterly house price index (HPI)1 (base: 2010-11=100) for Q4:2018-19, based on transaction data received from housing registration authorities in ten major cities (viz., Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai). On a year-on-year basis, the growth in all-India HPI continued to moderate and stood at 3.6 per cent in Q4:2018-19 as against 5.1 per cent in the previous quarter and 6.7 per cent a year ago. Barring Jaipur and Kanpur, all cities recorded an increase in HPI on an annual basis. The annual growth/contraction in HPI ranged from 19.5 per cent (in Kochi) to (-)11.4 per cent (in Jaipur), indicating large divergences in city-wise housing price movements.
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