By AW Research
On 31st Aug 2023, the Reserve Bank released its quarterly house price index (HPI)1 (base: 2010-11=100) for Q1:2023-24, based on transaction-level data received from the registration authorities in ten major cities (viz., Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai). Time series data on all India and city-wise HPIs are available at the Bank’s database on Indian economy (DBIE) portal
- All India HPI growth (y-o-y) inched up to 5.1 per cent in Q1:2023-24 from 4.6 per cent in the previous quarter and 3.4 per cent a year ago; annual growth in HPI varied widely across the cities – ranging from the high growth of 14.9 per cent (Delhi) to a contraction of 6.6 per cent (Kolkata).
- On a sequential (q-o-q) basis, all India HPI increased by 2.6 per cent in Q1:2023-24; eight of the ten cities witnessed housing registration price increase vis-a-vis the previous quarter.