Housing sale decline

Housing sale decline by 22% in NCR

Housing sale decline by 22%

Housing sale decline,The National Capital Region (NCR) has seen 22% drop in housing sales on quarterly basis, according to a report by Anarock consultancy. As per the report, with sales of nearly 9,830 units in Quarter 3, 2019, the sales dropped yearly by 13% and nearly 22% on quarterly basis. Among the top 7 cites, NCR was second in recording maximum decline on quarterly basis.

According to the report, Collectively, NCR saw new supply of 5790 units in Q3 2019 as against 4,200 units a year ago and nearly 13,570 units in the preceding quarter of Q2 2019.

Gurgaon saw maximum new launches in Q3 2019 comprising 2,030 units, increasing by 75% from 1,160 units in Q3 2018. Faridabad followed next and saw new launches of approx. 1,190 units in Q3 2019, up by 36% against the preceding quarter,” the report said.

With festival season approaching, developers are hopeful of better performance.

Housing sale decline

Greater Noida and Noida that saw minimal new supply, clocked in maximum sales in the third quarter this year (sale of 4,580 units). Greater Noida independently saw nearly 3,200 units sold in Q3 2019 – more than Gurgaon, which clocked in housing sales of 2,690 units during this period.

Ghaziabad recorded housing sales of 1,700 units in Q3 2019, decreasing by 20% on quarterly basis from 2,120 units sold in Q2 2019. According to the report, NCR has fared better in shedding its overall unsold stock on both quarterly and yearly basis. It saw its stock decline by 7% in a year – from 1,90,650 units in Q3 2018 to 1,77,900 units in Q3 2019. On a quarter basis, the region reduced its unsold stock by 2% – far better than most top cities except Hyderabad.

Source Byrealty.economictimes.indiatimes

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