The house price index increased by 1.8 percent in the fourth quarter of FY22

The All-India House Price Index (HPI) rose 1.8% on an annualized basis in the fourth quarter of FY22, according to data released by the Reserve Bank of India. However, the rise in the leading index was slower than in the January-March quarter of the previous year, when it rose 2.7%.

     

The RBI publishes its quarterly house price index based on transaction-level data obtained from housing registration authorities in ten major cities. The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.

"All India HPI posted 1.8% annual growth in the fourth quarter of 2021-2022, compared to 3.1% in the previous quarter and 2.7% a year ago," RBI said in a statement.

Annual movements in the HPI varied widely between cities, from a 19.2% growth (Kolkata) to a 11.3% decrease (Bengaluru).

On a sequential (quarterly) basis, the All India HPI recorded a decrease of 1.1% in the fourth quarter of 2021-2022.

Only Kolkata, Chennai and Kanpur recorded sequential growth; while the index for the rest of the cities decreased, with Bangalore registering the largest sequential contraction with 11.1%.


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