Housing sales in southern cities higher than north, west India in 2018: Report

Housing demand and supply were higher in Bengaluru, Chennai and Hyderabad as compared to sales and new launches in the north and west regions, property consultant 'Anarock' said.

According to a report, housing sales in the main southern cities collectively rose by 20 per cent as against 18 per cent rise in the north and 15 per cent in the west.

New housing launches increased by 77 per cent in 2018 to 67,850 units over the previous year.

National Capital Region (NCR) saw an increase of just 16 per cent in new supply while the main west Indian cities of Mumbai Metropolitan Region (MMR) and Pune, together, saw a mere 17 per cent jump in new residential supply.

'Anarock' also found out that the collective unsold stock in these southern cities is a mere 19 per cent of the total 6.73 lakh unsold units across the top seven cities.

NCR alone has nearly 28 per cent of the total unsold stock.