House price index rises 3.5% YoY in first quarter, shows RBI data

The all India house price index (HPI) rose by 3.5 per cent year-on-year in the first quarter of 2022-23, according to data released by the Reserve Bank of India.

The growth in the HPI was 1.8 per cent during January-March and 2 per cent in the April-June quarter of 2021-22.

The RBI said the year-on-year movements in HPI varied widely across the cities – ranging from a growth of 16 per cent in Kolkata to a contraction of 4 per cent in Bengaluru.

On a sequential basis, all India HPI increased by 2.2 per cent in the first quarter of 2022-23. Delhi, Kolkata, and Jaipur recorded sequential contraction in the index, while it rose for the remaining cities.

The central bank releases its quarterly house price index (HPI) based on transaction-level data received from the housing registration authorities in 10 major cities.

The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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