India House Price Index Moderates to 3.3% in Q1 FY25 - RBI Data
Aug 30, 2024 19:08
The all-India House Price Index (HPI) moderated to 3.3% in Q1 FY25, according to RBI data. Nine out of ten major cities saw a rise in house prices during the quarter.
Mumbai, Aug 30 (PTI) The all-India House Price Index (HPI) moderated to 3.3 per cent in the June quarter of 2024-25 from 5.1 per cent in the year-ago period, according to data released by the Reserve Bank of India on Friday.
The RBI releases HPI-based on transaction-level data received from the registration authorities in 10 major cities.
The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai.
"All-India HPI increased by 3.3 per cent (y-o-y) in Q1:2024-25 as compared to 4.1 per cent growth in the previous quarter and 5.1 per cent a year ago; annual HPI growth varied widely across the cities - ranging from a high of 8.9 per cent (Kolkata) to a low of (-)1.7 per cent (Delhi)," the central bank said.
On a sequential (quarter-on-quarter) basis, all-India HPI increased by 1.8 per cent in the first quarter of 2024-25.
Among the ten cities, nine (Mumbai, Delhi, Bengaluru, Lucknow, Kolkata, Chennai, Jaipur, Kanpur and Kochi) recorded a rise in house prices during the latest quarter.
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