Home sales decline 25% in July-September: Report

Source : IANS
Author : IANS
Last Updated: Fri, Oct 18th, 2019, 17:47:01hrs
Home sales decline 25% in July-September: Report
New Delhi: Housing sales across major cities declined 25 per cent during the July-September quarter to 65,799 units, according to a report by Proptiger.com.

During the corresponding period of financial year 2018-19 (FY19), about 88,078 units were sold, the report released on Thursday said.

The report also said that new project launches in the country declined 45 per cent in the July-September quarter of the financial year 2019-20 (FY20), when compared to the levels seen in the same quarter last year.

"Home sales reduced by 25 per cent as compared to the corresponding quarter last financial year. Quarter-on-quarter comparisons also showed decline in both sales and launches wherein new launches fell 32 per cent and home sales declined by 23 per cent," it said.

A comparison of numbers between the first half of FY19 and FY20 also showed that home sales and new launches moved downwards. As compared to the sale of 1,70,715 units in the first half of FY19, only 1,51,764 units were sold in the same period in FY20, registering an 11 per cent fall.

Similarly, as against the launch of 1,37,146 fresh units in the first six months of FY19, only 83,662 units were launched in India's nine cities in the first six months of FY20, a fall of 39 per cent, it added.