Housing sales in top 8 cities decline by 6% in Apr-Jun: PropTiger

Housing sales across the top eight cities declined 6 per cent in the April-June period compared with the preceding quarter as builders and investors were cautious due to Lok Sabha polls, according to PropTiger.

Property brokerage platform PropTiger, which is part of REA India that owns Housing.com, on Thursday released its quarterly data on housing demand and supply.

As per the data, housing sales fell 6 per cent to 1,13,768 units during the April-June period from 120,642 units in the preceding January-March quarter.

However, the housing sales rose 42 per cent in April-June from 80,245 units in the year-ago period.

"Demand for homes moderated during the April-June period on account of the general elections even though consumer sentiment continues to remain extremely positive about real estate investments on the back of strong fundamentals," said Vikas Wadhawan, Group CFO, REA India, and Business Head, PropTiger.com.

The developer community, too, exercised caution, as evidenced by