Buying a house? Here is something that will shock you

New Delhi: Housing prices rose by an average 5.3 per cent during April-June quarter of this fiscal in ten major cities as compared to the year-ago period, according to RBI data. The average rates appreciated by 2.5 per cent in these 10 major cities when compared to the previous quarter. 

The Reserve Bank of India (RBI) Wednesday released the quarterly house price index (HPI) for the first quarter of 2018-19, based on transactions data received from housing registration authorities in ten major cities -- Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi. 

"On a year-on-year basis, the all-India HPI recorded a growth of 5.3 per cent in Q1:2018-19 as against 6.7 per cent in the previous quarter and 8.7 per cent a year ago," RBI said in a statement. Except Delhi, all other cities recorded a rise in housing price on an annual basis, it added.

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"The All-India HPI recorded a sequential increase of 2.5 per cent in Q1:2018-19 over Q4:2017-18," RBI said. Delhi recorded the highest rise of 5.3 per cent and Kanpur recording the maximum contraction of (-) 2.4 per cent.