New home supply falls 13% in Q2, thanks to LS polls: PropEquity
image for illustrative purpose
New Delhi: Fresh supply of housing units is estimated to decline 13 per cent during this quarter across nine major cities with builders launching less number of projects because of the general election, according to real estate data analytics firm PropEquity.
PropEquity data shows that new housing supply in April-June is estimated to fall to 97,331 units across nine major cities as against 1,11,657 units in the year-ago period. Pune and Hyderabad are witnessing fewer launches during this quarter while the new supply in Delhi-NCR has almost doubled. Samir Jasuja, Chief Executive Officer & Managing Director of PropEquity, attributed the fall in new supply of housing units to the Lok Sabha elections which took place in this quarter.
The new supply is 7 per cent lower from the January-March quarter of this calendar year, he added. As per the city-wise data, new launches of residential properties in Delhi-NCR are likely to rise 95 per cent to 11,118 units during April-June this year from 5,708 units a year ago. The new supply of housing in Bengaluru is likely to rise 21 per cent to 14,297 units from 11,848 units.
