Moderation in All-India House Price Index growth reverts in Q1:2016-17
October, 26th 2016
The Reserve Bank of India today released the quarterly House Price Index (HPI) for Q1:2016-17 on Database of Indian Economy website (https://dbie.rbi.org.in/DBIE/dbie.rbi?site=statistics RealSector/Price&Wages/Quarterly) for All-India and 10 major cities (viz., Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi). Based on the revised data received from Bengaluru, the All India as well as city-HPI are also updated for Q4:2015-16.
All-India HPI1 (base 2010-11=100) has sequentially increased by 5.5 per cent to 231.1 in Q1:2016-17 from 219.1 in Q4:2015-16. All cities witnessed HPI increase in Q1:2016-17.
The All-India HPI recorded annual increase of 7.3 per cent in Q1:2016-17 after moderation over four consecutive quarters from 17.5 per cent in Q4:2014-15 to 3.3 per cent in Q4:2015-16.
On an annual basis, Chennai witnessed maximum increase of 23.9 in Q1:2016-17; whereas Jaipur witnessed maximum contraction (-4.4 per cent).
On a sequential basis (i.e., Q1:2016-17 over Q4:2015-16), Kochi recorded highest HPI increase of 17.6 per cent; whereas Jaipur recorded the lowest increase of 0.6 per cent.
Ajit Prasad Assistant Adviser
Press Release : 2016-2017/1003
1 Compiled in the Statistical Analysis Division of the Department of Statistics and Information Management, Reserve Bank of India, Mumbai. For methodology of compilation of HPI along with its limitations of usability please refer to the article “ House Price Index:2010-11 to 2013-14” (https://www.rbi.org.in/Scripts/BS_ViewBulletin.aspx) in October 2014 issue of the RBI Bulletin