Numbers and US

Story that numbers tell us

NHB Residex

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Few months ago CNBC TV18 alongwith Boston Analytics launched India’ first consumer confidence index. It was a pleasant news to know, and a sign of maturity of India’s business world. Now today again I am surprised to know that we have a housing price index as well that too from 2007.

The index has been prepared by National Housing Bank. In first stage they prepared index for five cities (Bangalore, Bhopal, Delhi, Kolkata and Mumbai). The base period was 2001. At present NHB residex has fifteen cities with base period 2007, now the plan to prepare index for thirty five cities having million plus population. The details can be found here.

Have a look at the chart below from NHB. It seems that Bangalore has been worst hit by financial crisis.At first thought sounds intuitive.  Export sector is most exposed to sub-prime crisis, and Bangalore’s vein and artery is IT and ITES sector, that does export of services. By the way within Bangalore housing prices in Lavelle Road plunged lowest in Jan-June 2008. Any explanation.

NHB Residex

Zone C is Lavelle Road, D is Richmond Town,  E is Jayanagar and Rajajinagar, F is Madiwala and Banaswadi. Any explanation on why Lavelle road turned out to be so fickle and whimsicle.

Price fluctuation within Bangalore

Price fluctuation within Bangalore

Will write sometime on why Housing price is one of the most important indicator of economy, and how NHB has calculated their index. As of now for methodology refer CS index.

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Written by SK

July 29, 2009 at 6:20 pm

Posted in Housing

Tagged with , ,

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