Housing Sales Up By 24%

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Housing sales rose to 72,472 units during July-September 2018 from 58,470 units in the year-ago period across nine major cities. New launches dipped to 35,836 units from 54,170 units, while unsold stocks fell by 11% to 7,80,424 units during the period under review, PropTiger said in its ‘Realty Decoded’ report for Q2 of FY19.
Top nine property markets in the country saw 24 per cent increase in housing sales during July-September period, but new launches declined by 35 per cent resulting in a fall in unsold apartments, according to News Corp-backed brokerage firm PropTiger.com.
Ankur Dhawan Chief Investment Officer of PropTiger said that significant reduction in launches clearly indicates that developers are focusing on the completion of existing projects rather than launching new ones.