Report: House prices increased by 23%, sales decreased by 11%; demand may increase in the festive quarter
Report: Anarock's report released on Thursday said that sales have declined in all seven cities. 93,750 new houses were built in July-September this year, which was 1.16 lakh in the same quarter a year ago.
House sales have declined by 11% in the July-September period with a 23% increase in prices across the top seven cities. Also, new launches have also reduced. According to real estate consultant Anarock, a total of 1.07 lakh houses were sold during this period while 1.20 lakh houses were sold in the same quarter a year ago.
Anarock report released today said sales have declined in all seven cities. 93,750 new houses were built in July-September this year against 1.16 lakh in the same quarter a year ago. Developers have a large number of projects during the festive quarter, or October-December. This can lead to a good demand in the market during this period.
While sales in Delhi-NCR have fallen 2% to 15,570 units, in Bangalore, it has shrunk 8% to 15,025 units. In Hyderabad, the fall has been 22%, 25% in Kolkata, and 9% in Chennai. However, the average price increase has been the highest-32%-in Hyderabad. Sales in the Mumbai Metropolitan Region have shrunk 6%, while in Pune, it has dropped 17%.
