Housing prices register an uptick in the backdrop of rise in input costs, geopolitical issues, and reversal of the accommodative stance by the central bank
National, 29th June 2022: As economic stability provides homebuyers with more confidence in their financial state, residential demand has picked up across the top eight cities, with both housing sales and new supply registering a positive growth trend in the quarter ending April-June 2022 (Q2 CY2022).
According to Real Insight Residential – April-June 2022 report, a quarterly analysis of India’s top eight residential markets by REA-backed PropTiger.com, the recent spike in property prices has had little impact on homebuyer sentiment as outlook towards overall economic scenario and income stability improve in the post-coronavirus pandemic phase.
The markets covered in the report include Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region, Delhi-National Capital Region, and Pune.
“Even though the RBI increased the repo rate twice during the quarter to bring it to 4.90%, home loans remained largely affordable for the period analysed. The biggest booster to housing demand has been the increased importance of owning a property which has been further backed by the consumer confidence in the overall economic scenario and impending income stability,” said Mr. Vikas Wadhawan, Group CFO, Housing.com, PropTiger.com & Makaan.com.