RBI sees a moderation of house price increases in Q3 2015-16

House prices in the country increased at a rate below 10 per cent in the third quarter (October-December) of the 2015-16 financial year, showing a moderation in the price spike for the first time since Q3 of 2013-14 when the rate of increase was 10.1 per cent, Reserve Bank of India's quarterly House Price Index (HPI) released on Friday showed.

HPI-All India (base 2010-11=100) increased to 221.7 in Q3 of 2015-16 from 218.2 in Q2 2015-16. The annual (Y-o-Y) increase of HPI-All India has been moderating since Q1 of 2015-16, as per RBI data.

RBI has made available housing data for all India and 10 major cities, viz., Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi for the third quarter of the 2015-16 financial year.

On an annual basis, Lucknow witnessed the highest increase of 16.1 per cent in Q3 2015=-16 while HPI declined in Jaipur (-5.2 per cent year-on-year).

Sequentially (ie Q3 2015-16 over Q2 2015-16), HPI of Kochi increased by 8.0 per cent while HPI for Bengaluru declined by 1.0 per cent.

RBI has also updated figures for Delhi for the quarter Q2:2015-16.