House price growth slows to 3.6% in Q1 FY27, says RBI; what’s driving the moderation

Chandigarh, Lucknow were among the cities that boosted the riseIndia’s house price growth slowed to 3.6 per cent year-on-year in the first quarter of FY27, from 4.5 per cent in the previous quarter, indicating a moderation in the pace of residential property price increases, according to Reserve Bank of India (RBI) data released this week.The RBI’s All-India House Price Index (HPI) rose to 117.5 in Q1 FY27, from 116.2 in Q4 FY26 and 113.4 in the year-ago quarter. On a quarter-on-quarter basis, the index increased 1.1 per cent.While prices continued to rise, the slower annual growth suggests that the sharp momentum seen in some housing markets has eased. The RBI said the latest annual growth was mainly contributed by Chandigarh, Jaipur, Kanpur, Lucknow and Thiruvananthapuram.“The HPI regist