Rate of Growth in House prices at 6-year low

The Economic Times - - Economy: Micro, Macro & More - Our Bureau

Mum­bai: The rate of in­crease in home prices fell to the low­est in al­most 6 years as per the lat­est House Price In­dex (HPI) re­leased by the Re­serve Bank of In­dia on Wed­nes­day. Data on move­ment of home prices avail­able from Q1 FY11 showed that while the All In­dia House Price In­dex was at an all­time high, the rate of ac­cel­er­a­tion in home prices had dipped to its low­est lev­elin 6 years. The House Price In­dex, that mea­sures price lev­els across the na­tion, rose to 221.7 in De­cem­ber, from 218.2 in the Septem­ber quar­ter. The data mapped by RBI showed that the rate of in­crease in house prices fell be­low 10% dur­ing Q3 FY16, the pre­vi­ous low of 10.1% recorded in Q3 FY14. RBIs in­dex showed that Luc­know wit­nessed high­est in­crease in house prices at 16.1%, while the in­dex in Jaipur de­clined by 5.2%. The HPI of Kochi in­creased by 8% whereas HPI of Ben­galuru de­clined by 1% on a se­quen­tial ba­sis.

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