Housing Sales Dip 8% Across Top 7 Cities in Q2 2024 Amid Rising Property Prices: Report

City-wise DataNCR alone saw a quarterly growth of 6 per cent in housing across all 7 cities. Around 15,650 units were sold in Q1 this year while approx. 16,550 units were sold in Q2.MMR saw a decline of 3 per cent. The maximum sales in this region stood at approx. 41,540 units in the second quarter against approx. 42,920 units in Q1 2024.Pune and Bengaluru saw a decrease in housing sales at 8 per cent over Q1 2024 and in Q2 2024, respectively. Pune sold approx 21,145 units in Q2 while 16,360 units were sold in Bengaluru in the same quarter.Hyderabad saw a drop of 23 per cent over Q1 and sold approx 15,085 units in Q2 2024. Chennai sold approx. 5,020 units in the second quarter and saw a decline of 9 per cent against Q1 2024.Kolkata’s housing sales dropped by 18 per cent in Q2 against Q1 2024 wherein approx. 4,640 units were sold in the second quarter this year.The average residential property prices surge in the range of 4 to 10 per cent in the second quarter across the top 7 cities against Q1 2024. As for available inventory across the top 7 cities, a drop of a mere 1% has been seen quarterly with around 5.78 lakh units reported at the end of Q2 2024. The NCR region saw the highest yearly drop of 22 per cent – from around 1.11 lakh units by Q2 2023-end to approx. 86,900 units as of Q2 2024-end.

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