Housing sales remain subdued in September quarter, says Anarock

Real estate market across top seven cities stayed subdued in the September quarter with just nine per cent increase in sales, indicating that house buyers continue to wait and watch. September quarter saw a meagre three per cent increase in overall fresh housing supply compared to the April-June period despite property prices remaining stagnant, according to Anarock Property Consultants. “The third quarter saw only a minimal increase in both new launches and absorption over the previous quarter. However, there has been a 51 per cent jump in new housing supply against Q3 2017. Purchases also rose 15 per cent compared to the year-ago period,” Anuj Puri, Chairman, Anarock, said. Buyers and developers alike are pinning their hopes on the ongoing festive season for better deals and faster deal velocity, respectively. “Lower-budget range housing continues to keep the momentum going. This segment saw a nearly 65 per cent increase in supply in Q3 2018 against the same period last year,” he added.