A Major Rise in Housing Price Index (HPI) by 3.9% in Q4 of 2019-20
The quarterly House Price Index (HPI) for the fourth quarter of 2019-20 was just released by the Reserve Bank of India (RBI).
Housing Prices Index or the price changes in residential housing from some particular start date for the 4th quarter of the year 2019-20 was released recently by the Reserve Bank of India. Do you know that the Housing Price Index at present, is usually calculated with the base year as 2010-11.
The index is made on the basis of transaction level data received from various housing registration authorities situated in 10 different major cities like Ahmedabad, Bengaluru, Delhi, Chennai, Kochi, Kanpur, Mumbai, Lucknow and Kolkata.
A Major Decline being Witnessed in Housing Prices
A statement recently reported that the major decline in housing prices in cities like Delhi, Bengaluru, Ahmedabad and Jaipur led to the massive contraction in All-India housing prices index by (-) 0.2 % on a sequential basis of (q-o-q). Mumbai was heard to have recorded to have the largest sequential rise.
If you look at it on a yearly basis (YoY), then you would find out that the All-India HPI was raised by 3.9 % in the fourth quarter of 2019-20. The index was stated to have seen a lift by 3 percent in Jan-March 2019.
The HPI was seen to be changing across various cities and varied from 22.6 % in mid-sized cities like Jaipur to 13.8 percent in Kochi, according to the statement.