All-India House Price Index rises 2.8% in Q3

The all India house price index (HPI) rose 2.8 per cent in the October-December quarter of 2022-23 as compared with 3.1 per cent a year ago, according to data released by the Reserve Bank of India (RBI).

The RBI releases quarterly HPI based on transaction-level data received from the registration authorities in ten major cities. The cities are: Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai. The movements in HPI during the third quarter of the current fiscal varied widely across the cities - ranging from a growth of 7.1 per cent (Kochi) to a contraction of 9 per cent (Jaipur).

"On a sequential (q-o-q) basis, all India HPI increased by 1.3 per cent in Q3:2022-23; while Lucknow, Kolkata, and Jaipur recorded sequential contraction in the index, it rose for the remaining cities," the RBI said. Beginning with Mumbai city, the Reserve Bank initiated the work of compiling a house price index (HPI) in 2007 and brought out a quarterly HPI for Mumbai city. Over the quarters, the coverage has been extended by incorporating the nine other cities.

Housing loan outstanding at Rs 19L cr in Jan Growth in personal loans accelerated to 20.4 per cent annually in January 2023 largely driven by 'housing loans', according to the data released by the RBI.

The growth in the personal loans segment was 12.8 per cent in January 2022. The data on sectoral development of bank credit in January 2023 showed that the personal loan outstanding on January 27, 2023, was Rs 39.59 lakh crore as against 32.87 lakh crore in a year ago.

Data further revealed that housing loan outstanding was Rs 18.88 lakh crore in January this year as against Rs 16.36 lakh crore a year ago.