RBI’s home price index increases across India despite rate hikes

Home prices in the country have gone up – albeit at a slower pace — if data collected by the Reserve Bank of India is any indication, signalling that higher interest rates have not made much impact in the sector till now.

The RBI’s All India Home Price Index (HPI) recorded a 2.79 per cent growth (year-on-year) to 302 in the third quarter (ended December) of 2022-23 as compared with 293.8 when it showed a 3.1 per cent growth a year ago despite the rise in interest rates. On a quarter-on-quarter (Q-o-Q) sequential basis, the index rose from 298, an increase of 1.34 per cent, from September 2022, according to the latest RBI data.

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