Kochi topped the list of cities that have witnessed marginal jump in house prices in the July-September quarter, a newly released survey by National Housing Bank (NHB) has revealed.

According to the survey, Kochi saw the sharpest increase in property prices with a 10 per cent jump quarter-on-quarter in the three months through September 30.

House prices in Delhi climbed 3.8 per cent, while Mumbai recorded a jump of 0.5 per cent from the previous quarter.

Jaipur recorded an increase of 9 per cent, while house prices in Ahmedabad, Bhubaneswar and Lucknow increased 3 per cent, 2.3 per cent and 2.2 per cent respectively.

Chennai and Pune witnessed saw marginal increases of 0.8 per cent and 0.7 per cent respectively.

The cities where residential property prices declined during the same quarter are Surat (-4.8 per cent), Indore (-3.5 per cent), Kolkata (-2.4 per cent), Vijayawada (-2.4 per cent), Patna (-1.8 per cent), Ludhiana (-1.7 per cent), Bangalore (-1.7 per cent), Hyderabad (-1.3 per cent), Guwahati (-0.7 per cent), Bhopal (-0.5 per cent) and Faridabad (-0.4 per cent).

Amber Maheswari, managing director of corporate finance at Jones Long LaSalle, said, "The economy is in a bad shape, doing less than 6%. Real estate reflects the growth rate of the economy. If market is so bad, nothing is moving then real estate also mirrors that."

Analysts are of the view that it was the combination of stubborn prices and high interest rates that kept buyers on the sidelines.