Lifestyle

House prices increase 7% in June quarter, shows NHB Residex

[ecis2016.org] NHB Residex tracks price movement of residential properties in 50 cities. It is computed on a quarterly basis, with FY 2017-18 as the base year.

The assessment price of residential properties in India has shown a significant annual increase of 7% during the April-June period of 2022, shows the National Housing Bank’s housing price index (HPI). The index showed an upwards incline of 1.8% during the same period last year.

The market price of under-construction properties also showed an annual appreciation of 5.7% during the quarter ended June, 30, 2022 as against 1.9% a year ago.

NHB Residex tracks price movement of residential properties in 50 cities. It is computed on a quarterly basis, with FY 2017-18 as the base year. The Residex offers two sets pricing data Market HPI, which is based on data collected from real estate developers, and Assessment HPI, which is based on data reported by banks and housing finance companies.

The index showed the annual change in assessment price varied widely across the cities, with Coimbatore showing an appreciation of over 16% and Navi Mumbai registering a decline of 5.1%. The annual variation in market prices of ranged between an upwards movement of 28.6% in Bhubaneswar to a contraction of 13.2% in Indore.

On a yearly basis, prices in 42 cities, covered in the index, moved upwards while they declined in 5 cities. All the 8 prime residential markets in the country, however, recorded growth in the past one year shows the Residex. Among the 8 cities, annual price growth was the sharpest in Ahmedabad and Hyderabad and the lowest in Mumbai and Pune, showed the index.

 

Annual price change in prime residential markets 

City Annual price change in per cent during April-June, 2022
Ahmedabad

 

13.5%
Bangalore

 

3.4%
Chennai 12.5%

 

Delhi 7.5%

 

Hyderabad

 

11.5%
 

Kolkata

 

6.1%
Mumbai

 

2.9%
Pune

 

3.6%

 

Source: NHB Residex

On a quarter-on-quarter basis, the 50-city index showed an expansion of 1.7% against 2.6% in the previous quarter. In fact, the index is showing an increasing trend on a quarter-on-quarter basis since June 2021.

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Debora Berti

Università degli Studi di Firenze, IT

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button