Housing inventory overhang lowest in 5 years due to robust sales
Real Estate

Housing inventory overhang lowest in 5 years due to robust sales

The housing inventory overhang in India's top seven cities was 20 months at the end of the January-March quarter, according to data from real estate consultancy Anarock released on Monday. In the quarter ending December 2020, it was the longest at 55 months.

The inventory overhang is the time it would take to sell the area's current housing listings. A lower overhang indicates higher demand in a specific area.

According to the data, Bengaluru had the shortest inventory overhang of 13 months. "In Q1CY23, the top seven cities recorded all-time high sales of more than 114,000 units," says Anarock Group Chairman Anuj Puri. "The quarter broke all records and breached the 100,000 units mark for the first time. Strong homeownership sentiment, relatively lower home loan rates, strong momentum in luxury housing and the anticipation of further price hikes were major factors in boosting housing sales, bringing down the overall residential inventory overhang across the top cities."

The housing inventory overhang in India's top seven cities was 20 months at the end of the January-March quarter, according to data from real estate consultancy Anarock released. In the quarter ending December 2020, it was the longest at 55 months. Hyderabad's inventory overhang was reduced to 21 months in Q1CY23, from 23 months in Q1CY18.

Pune's inventory overhang was 20 months as of the end of Q1CY23. It was 40 months during the same period in 2018, and it increased to 43 months in Q1CY21.

Chennai's inventory overhang also decreased significantly, from 36 months in Q1CY18 to 20 months in Q1CY23.

The residential inventory overhang in Kolkata fell from 46 months in Q1CY18 to 20 months at the end of Q1 CY23.

Also Read
Indiabulls Housing Finance ropes in Oaktree Capital
5 States Front-runners in State Energy Efficiency Index 2021-22

The housing inventory overhang in India's top seven cities was 20 months at the end of the January-March quarter, according to data from real estate consultancy Anarock released on Monday. In the quarter ending December 2020, it was the longest at 55 months. The inventory overhang is the time it would take to sell the area's current housing listings. A lower overhang indicates higher demand in a specific area. According to the data, Bengaluru had the shortest inventory overhang of 13 months. In Q1CY23, the top seven cities recorded all-time high sales of more than 114,000 units, says Anarock Group Chairman Anuj Puri. The quarter broke all records and breached the 100,000 units mark for the first time. Strong homeownership sentiment, relatively lower home loan rates, strong momentum in luxury housing and the anticipation of further price hikes were major factors in boosting housing sales, bringing down the overall residential inventory overhang across the top cities. The housing inventory overhang in India's top seven cities was 20 months at the end of the January-March quarter, according to data from real estate consultancy Anarock released. In the quarter ending December 2020, it was the longest at 55 months. Hyderabad's inventory overhang was reduced to 21 months in Q1CY23, from 23 months in Q1CY18. Pune's inventory overhang was 20 months as of the end of Q1CY23. It was 40 months during the same period in 2018, and it increased to 43 months in Q1CY21. Chennai's inventory overhang also decreased significantly, from 36 months in Q1CY18 to 20 months in Q1CY23. The residential inventory overhang in Kolkata fell from 46 months in Q1CY18 to 20 months at the end of Q1 CY23. Also Read Indiabulls Housing Finance ropes in Oaktree Capital 5 States Front-runners in State Energy Efficiency Index 2021-22

Next Story
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?