On June 30, RBI released the Housing prices index for the fourth quarter of FY20 and said, “All-India housing prices index rose by 3.9 per cent during the fourth quarter of 2019-20 compared to the year-ago period, but contracted 0.2 per cent compared to the previous quarter”.
The base year for calculation of Housing Prices Index or HPI is 2010 to 2011. According to RBI, “The all-India HPI contracted by (-) 0.2 per cent on a sequential basis (q-o-q), largely due to decline in the house prices in Delhi, Bengaluru, Ahmedabad and Jaipur; Mumbai recorded the highest sequential rise”.
A statement by the company said, “The all-India HPI contracted by (-) 0.2 per cent on a sequential basis (q-o-q), largely due to decline in the house prices in Delhi, Bengaluru, Ahmedabad and Jaipur; Mumbai recorded the highest sequential rise”.
However, on an annual basis (y-o-y), the all-India HPI increased by 3.9 per cent in the fourth quarter of 2019-20. The index had risen by 3 per cent in the previous quarter and 3.6 per cent in Jan-March 2019. The HPI varied widely across cities and ranged from 22.6 per cent (in Jaipur) to (-)13.8 per cent (in Kochi), added the bank.