Connect with us


News

Q1 2022 housing sales at all-time high over, 99,550 housing units sold in top 7 cities

Anarock Logo

Mumbai, April 1, 2022: Quarterly housing sales in Q1 2022 are at an all-time high since 2015 with approx. 99,550 units sold across the top 7 cities, reveals latest ANAROCK Research data. This is a 71% yearly rise against approx. 58,290 units sold back in Q1 2021. The two leading realty hotspots – MMR and NCR – accounted for over 48% of the total sales in the top 7 cities, with NCR witnessing an over 114% yearly jump.

New launches across the top 7 cities witnessed a 43% yearly rise – from 62,130 units in Q1 2021 to over 89,150 units in Q1 2022. As in the previous quarter, MMR and Hyderabad saw the maximum new supply, accounting for 51% of the total new launches across the top 7 cities. Individually, the two cities saw 59% and 71% yearly increases in their new supply, respectively.

Despite spiralling new launches in this and the previous quarter, unsold inventory in the top 7 cities saw a approx. 2% yearly decline – from 6.42 lakh units towards Q1 2021-end to approx. 6.28 lakh units by Q1 2022-end. Even on a q-o-q basis, unsold stock saw a 2% dip across the top 7 cities. Chennai, MMR, and NCR saw the highest yearly declines in Q1 2022 – by 11%, 10% and 9%, respectively.

Anuj Puri

“The bull run in the housing market continued in the first quarter of 2022, with approx. 10% q-o-q and 71% y-o-y growth in sales, thus recording all-time high quarterly sales since 2015,” says Anuj Puri, Chairman – ANAROCK Group. “The impact of the third Covid-19 wave was significantly lower than of the preceding two waves. The unrelenting appetite for homeownership amid the pandemic has coupled with a growing certainty of impending price rises to speed up housing sales velocity.”

New Launch Overview

The top 7 cities recorded new launches of around 89,150 units in Q1 2022 against 62,130 units in Q1 2021, increasing by 43% over the previous year’s corresponding period. The key cities contributing to new launches in Q1 2022 included MMR (Mumbai Metropolitan Region), Hyderabad, Pune, and Bengaluru, together accounting for an 82% supply addition.

Advertisement


  • MMR saw approx. 23,640 units launched in Q1 2022 – a significant increase of nearly 60% over Q1 2021. More than 57% new supply was added in the sub-INR 80 lakh budget segment
  • Hyderabad added approx. 21,550 units in Q1 2022, a yearly increase of 71% over the corresponding period last year. Over 63% new supply was added in the INR 80 lakh to INR 2.5 Cr price bracket
  • Pune added new supply of approx. 14,490 units in Q1 2022 compared to 13,820 units in Q1 2021 – an increase of 5%
  • Bengaluru added approx. 13,210 units in Q1 2022, a significant yearly increase of 72%. Approx. 65% new supply was added in the mid-range and premium segments, i.e., the INR 40 Lakh – INR 1.5 Cr. price bracket
  • NCR saw an increase of 38% in new launches over Q1 2021 of the previous year with approx. 9,300 units launched in Q1 2022
  • Chennai added approx. 3,060 units in Q1 2022, a yearly decrease of 34% over Q1 2021. It was the only city to see a decline in new supply
  • Kolkata added approx. 3,900 units in Q1 2022, a significant increase of 115% over Q1 2021. Approx. 55% new supply was added in the affordable segment
City-wise New Supply (in Units) & Percentage Change
 CitiesQ1 2022 Q1 2021 % Change (Q1 2021 vs Q1 2022) Q4 2021 %Change (Q4 2021 vs Q1 2022)
NCR9,3006,75038%12,720-27%
MMR23,64014,82060%18,68027%
Bangalore13,2107,69072%8,58054%
Pune14,49013,8205%10,84034%
Hyderabad21,55012,62071%15,32041%
Chennai3,0604,620-34%1,67083%
Kolkata3,9001,810115%5,960-35%
Total89,15062,13043%73,77021%

Source: ANAROCK Research

Overall Sales Overview

Approx. 99,550 units were sold in Q1 2022 – a significant increase of 71% over Q1 2021. NCR, MMR, Bengaluru, Pune, and Hyderabad together accounted for 89% sales in the quarter.

  • Hyderabad recorded sales of 13,140 units in Q1 2022, a massive spike of 199% over Q1 2021 – mainly due to continuous flow of new supply in the city over the past 5-6 quarters
  • NCR and Kolkata also saw massively increased sales in Q1 2022 when compared to the other top cities. Sales in NCR and Kolkata increased by 114% and 124% respectively over Q1 2021, with approx. 18,835 and 5,990 units sold, respectively
  • MMR and Bengaluru saw housing sales increase by 43% and 55% respectively in Q1 2022 against Q1 2021, with approx. 29,130 and 13,450 units sold, respectively
  • Chennai saw approx. 4,985 units sold – an increase of 75% over Q1 2021
  • Pune saw 14,020 units sold in Q1 2022, increasing by 33% over Q1 2021
City-wise Absorption (In Units) & Percentage Change
 Cities Name Q1 2022 Q1 2021 % Change (Q1 2021 vs Q1 2022) Q4 2021 %Change (Q4 2021 vs Q1 2022)
NCR18,8358,790114%17,5757%
MMR29,13020,35043%27,6805%
Bengaluru13,4508,67055%12,3059%
Pune14,02010,55033%11,93018%
Hyderabad13,1404,400199%11,03019%
Chennai4,9852,85075%4,6807%
Kolkata5,9902,680124%5,6606%
Total99,55058,29071%90,86010%

Source

Available Inventory

When compared to Q1 2021, the increase in overall absorption in the top 7 cities in Q1 2022 resulted in an overall reduction of 2% in the available inventory by Q1 2022-end – from approx. 6.42 lakh units in Q1 2021-end to approx. 6.28 lakh units by Q1 2022-end. Chennai, MMR, and NCR witnessed the highest reductions in available inventory in Q1 2022 when compared to Q1 2021 – by 11%, 10%, and 9% respectively.

Price Movement Average residential property prices across the top 7 cities increased in the range of 2-5% in Q1 2022 when compared to Q1 2021, mainly due to increase in the prices of construction raw materials. Hyderabad recorded the highest 5% annual jump.

Advertisement


Trending