Housing sales down 8% sequentially in Delhi, Mumbai, 5 other cities in April-June, reveals report; here are key takeaways

Housing sales across the seven cities - the NCR, the MMR, Bengaluru, Kolkata, Chennai, Hyderabad and Pune - stood at approximately 1,20,340 units in the June quarter as against a record 1,30,170 units in the previous three months.

 

 

The sales grew 5.0 per cent on a year-on-year basis, according to the property consultant.

Sales in the MMR and Pune stood at about 62,685 units, which is roughly 52 per cent of total sales in the seven cities. 

“The quarterly decline seen in housing sales is essentially because of the all-time high base considered in the previous quarter... Most importantly, this drop is also due to the significant hike in property prices over the last one year, which in turn has prompted many investors to take a breather," said Anuj Puri, Chairman, ANAROCK Group.

While average residential prices in the seven cities logged a jump of 7.0 per cent on a quarter-on-quarter basis, they surged 25 per cent compared with the corresponding period a year ago. 

New launches in the seven cities increased 6.0 per cent on a quarter-on-quarter basis to 1,17,170 units in the April-June period, with the MMR and Pune enjoying the maximum new supply (54 per cent of the total new launches in the seven cities).