HPI rises 5.7% in Q2 of 2018-19 over Q2 of 2017-18
The Reserve Bank released the quarterly house price index (HPI) (base: 2010-11=100) for Q2 of 2018-19, based on transactions data received from housing registration authorities in ten major cities (viz., Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi).The All-India HPI recorded a sequential increase of 0.8% in Q2 of 2018-19 over Q1 of 2018-19.
City-wise, large variance was observed, with Chennai recording the highest rise 6.2% and Kanpur recording the maximum contraction (-) 5.6%.
On a year-on-year basis, the all-India HPI recorded a growth of 5.7% in Q2 of 2018-19 as against 5.3% in the previous quarter and 7.4% a year ago.
Except Kanpur, all other cities recorded a rise in housing prices on an annual basis. The annual growth/contraction in HPI ranged from 20.8% (in Kochi) to (-) 3.0% (in Kanpur), indicating large divergences in city-wise housing price movements.
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