Housing prices slip in 10 cities in Q2: NHB Residex
A total of ten cities, including Delhi, saw declines of up to 7 per cent in property prices in the July-September quarter, according to the recently released National Housing Bank (NHB) Residex.
As per the NHB Residex, Delhi saw a quarter-on-quarter fall of 4.5 per cent in housing prices in the three months ended September 30. However, housing prices in the national capital increased by 6.7 per cent from the corresponding quarter of last year.
The list of other cities that witnessed declines in property prices in the quarter under review also includes Meerut, Ludhiana, Vijayawada, Nagpur, Bhopal, Indore, Jaipur, Bhubaneswar, and Bangalore.
Housing prices in Meerut slipped 6.88 per cent quarter-on-quarter; while prices in Ludhiana, Vijayawada, Nagpur, Bhopal, Indore, Jaipur slipped by 4.46 per cent, 4.03 per cent, 3.58 per cent, 3.09 per cent, 2.18 per cent and 1.82 per cent, respectively. Bhubaneswar and Bangalore recorded declines of 1.03 per cent and
0.93 per cent in their respective housing prices.
On the other hand, housing prices jumped in 12 cities, with Kolkata reporting the highest increase of 5.3 per cent. Housing prices in Chennai, Hyderabad, Ahmedabad, Lucknow jumped by 4.95 per cent; 4.77 per cent;
2.69 per cent, and 2.14 per cent, respectively.
Prices in Pune, Coimbatore, Dehradun and Kochi remained stagnant during the quarter under review.
Residex has been tracking residential properties' prices on a quarterly basis since the year of 2007.