Quarterly housing sales in Q1 2022 were at an all-time high since 2015 with close to 99,550 units sold across the top 7 cities, reveals latest ANAROCK Research data. This is a 71% yearly rise against approx. 58,290 units sold back in Q1 2021. The two leading realty hotspots – MMR and NCR – accounted for over 48% of the total sales in the top 7 cities, with NCR witnessing an over 114% yearly jump.
New launches across the top 7 cities witnessed a 43% yearly rise – from 62,130 units in Q1 2021 to over 89,150 units in Q1 2022. As in the previous quarter, MMR and Hyderabad saw the maximum new supply, accounting for 51% of the total new launches across the top 7 cities. Individually, the two cities saw 59% and 71% yearly increases in their new supply, respectively.
Despite spiralling new launches in this and the previous quarter, unsold inventory in the top 7 cities saw a approx. 2% yearly decline – from 6.42 lakh units towards Q1 2021-end to approx. 6.28 lakh units by Q1 2022-end. Even on a q-o-q basis, unsold stock saw a 2% dip across the top 7 cities. Chennai, MMR, and NCR saw the highest yearly declines in Q1 2022 – by 11%, 10% and 9%, respectively.
“The bull run in the housing market continued in the first quarter of 2022, with approx. 10% q-o-q and 71% y-o-y growth in sales, thus recording all-time high quarterly sales since 2015,” said Anuj Puri, Chairman – ANAROCK Group. “The impact of the third Covid-19 wave was significantly lower than of the preceding two waves. The unrelenting appetite for homeownership amid the pandemic has coupled with a growing certainty of impending price rises to speed up housing sales velocity.”
(To be updated)