- New supply across top 7 cities up by 27% q-o-q – from 55,600 units in Q4 2018 to 70,490 units this quarter; defies conventional election period trends
- Pune and MMR see max. quarterly rise in both housing sales and new supply; absorption in Pune rose by 24%, in MMR by 19%
- Bengaluru frontrunner in shedding unsold stock; sees 9% decline in Q1 2019 over previous quarter & a 27% yearly fall
- New affordable housing supply sees over 47% q-o-q jump – from 20,800 units in Q4 2018 to 30,750 units this quarter
- Annual housing sales rise 58%, new launches up by 91% across the top 7 cities
Defying previous election year trends when sales and new launches remained muted during this period, Q1 2019 saw both housing sales and new supply rise due to multiple Government sops in the first three months of 2019.
ANAROCK Property Consultants’ data shows that housing sales rose by 12% and new residential supply by 27% q-o-q due to sops in the interim budget, GST rate cuts and lowering of home loan rates post RBI’s recent repo rate cut.