EconomyHouseholds
What are homes costing, and how much do households owe?
House prices rose 1.1% after inflation in the year to Q4 FY26, by the BIS measure; RBI's all-India index rose 3.7% before inflation in the year to Q1 FY27.
Written for readers following housing and household borrowing. Data to Q1 FY27.
Are homes getting dearer after inflation?
House prices rose 1.1% after inflation in the year to Q4 FY26, by the BIS measure; RBI's all-India index rose 3.7% before inflation in the year to Q1 FY27. Since 2010 real house prices have grown as fast as 17.0% a year (Q4 FY12) and fallen as much as 5.4% (Q2 FY21).
Residential property prices after inflation
% change on a year earlier, quarterly. BIS's series for India, from RBI's house price data, deflated by consumer prices.
How to read it. Below zero, house prices rose more slowly than consumer prices; a home became cheaper in real terms even if its price went up.
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What does RBI's own index show?
RBI's all-India house price index, which starts in Q1 FY23 on its 2022-23 base, rose 3.7% in the year to Q1 FY27, against 3.6% a year earlier.
RBI's all-India house price index
% change on a year earlier, before inflation. Built from property registration data in major cities.
How to read it. RBI's index covers registered sales in large cities, so it misses new homes not yet sold and smaller towns.
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How much do households owe?
Households owed 49.1% of GDP in Q4 FY26, up from 44.8% a year earlier, the highest since the BIS series begins in 2007.
Household debt as a share of GDP
Loans to households from banks and other lenders, % of GDP.
How to read it. Home loans are the largest part; the borrowing page breaks down the rest by kind of loan.
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The workings
The question
Data
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