Of the total 17,180 units sold in MMR in Quarter 3, Mumbai witnessed housing sales of 11,630 units comprising over 68% share of the entire region.
When it comes to launching new units, the city still leads in the Mumbai Metropolitan Region (MMR). Of the total 14,040 new housing units launched in the entire MMR in Quarter 3 of 2019, Mumbai witnessed supply of 9,390 units comprising 67% share, followed by Navi Mumbai which saw the launch of 2,430 new units (17% share) while Thane saw 2,220 units being launched during the period, says a report by Anarock Property Consultants.
Anuj Puri, Chairman, Anarock Property Consultants, said, "On a year-on-year basis, new stock in Mumbai reduced by 33%. It was 14,040 units in Quarter 3 of 2018, the exact same number of launches that is seen by the entire MMR in this quarter. There is a quarterly decline of 38%."
The report stated that Navi Mumbai saw its new supply reduce by 21% in the third quarter this year – from 3,060 units in Quarter 3 of 2018 to 2,430 units for the same quarter this year. On a quarter-on-quarter basis, new supply declined by 34% and was 3,710 units in Quarter 2 this year.
Thane saw its new stock decline by 19% on a year-on-year basis. It was 2,740 units in Quarter 3 last year and now stands at 2,220 units. It saw a 48% decline from the preceding quarter.
Of the total 17,180 units sold in MMR in Quarter 3, Mumbai witnessed housing sales of 11,630 units comprising over 68% share of the entire region. On a year-on-year basis, the city saw its sales decline by 9% with 12,750 units in Quarter 3 of 2018. On a quarterly basis, housing sales in Mumbai fell by 22% — from 14,850 units in Quarter 2 of 2019.
Thane witnessed a yearly reduction of 1% in Quarter 3 – down from 2,690 units in Quarter 3 of 2018 to 2,660 units now. Quarter-on-quarter, the city saw a 16% decline in housing sales. Approx. 3,170 units were sold in Thane in Quarter 2 of 2019.
At the same time, Navi Mumbai saw housing sales rise yearly by 5% – with 2,740 units sold in Quarter 3 of 2018 to 2,890 units sold this year. However, on a quarter-on-quarter basis, sales declined by 13% from 3,340 units in Quarter 2 of 2019.
A lot of unsold stock still remains. As of Quarter 3 this year, MMR had an unsold stock of nearly 2,20,870 units. Of this, Mumbai comprised 66% share with approximately 1,46,380 unsold units. On a yearly basis, the city was able to shed its unsold stock by 3% while on a quarter-on-quarter basis it only saw a 1% reduction in the unsold stock.
Thane has a total unsold stock of 34,950 units as of Quarter 3 of 2019, declining by 1% on a quarterly basis and by 2% on a year-on-year basis. Unsold stock as of Quarter 3 last year was 35,700 units.
Navi Mumbai's unsold inventory is at 39,530 units in this quarter. On a quarter-on-quarter basis, the inventory declined by 1% from 39,990 units in Quarter 2 this year. On a yearly basis, the city saw its unsold stock increase by 7% having stood at 37,000 units in Quarter 3 of 2018.
Q3 Housing Supply And Sale Trends
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