NHB Residex shows increase in home prices across 18 cities
NEW DELHI: Despite home sales going down in many markets across the country, the National Housing Bank's residential housing index, Residex has shown an increase in home prices in the October-December 2012 quarter across 18 of the 20 cities it tracks.
NHB, says Verma, will start covering six more cities from the January-March 2013 quarter. "Based on these 26 cities, we will asses if we could construct a national property price index," says RV Verma, chairman, NHB.
The cities which have shown the maximum quarter-on-quarter increase are Mumbai (9.6%) followed by Delhi (9.6%) , Kolkata (9.4%) , Patna (9.4%) , Kochi (8.8%) , Surat (8.7%) , Bengaluru (8.2%) , Lucknow (8.0%) , Hyderabad (7.1%) , Ludhiana (6.5%) , Ahmedabad (6.1%) , Guwahati (5.1%) , Bhopal (4.9%) , Bhubneshwar (2.4%) , Jaipur (2.4%) , Vijayawada (2.2%) , Pune (2.0%) and Chennai (0.6%) .
There was a fall in home prices in only two cities-Indore (-1%) and Faridabad (-5.1%) during the quarter.
Source: http://economictimes.indiatimes.com/markets/real-estate/news/nhb-residex-shows-increase-in-home-prices-across-18-cities/articleshow/18673481.cms