In an indicating that real estate market is finally back on the track will all the top nine property markets in the country saw 24% increase in housing sales during July-September period, but new launches declined by 35% resulting in a fall in unsold apartments, News Corp-backed brokerage firm PropTiger.com, claimed in its recent report. Housing sales rose to 72,472 units during July-September 2018 from 58,470 units in the year-ago period across nine major cities. New launches dipped to 35,836 units from 54,170 units, while unsold stocks fell by 11% to 7,80,424 units during the period under review, PropTiger said in its 'Realty Decoded' report for Q2 of FY19. The cities included Ahmedabad, Bengaluru, Chennai, Gurugram (including Bhiwadi, Dharuhera and Sohna), Hyderabad, Kolkata, Mumbai (including Navi Mumbai and Thane), Noida (including Greater Noida and Yamuna Expressway), and Pune. An increase in sales combined with a fall in launches is good news for the industry as it is resulting decrease in inventory is a harbinger of increased activity in the sector over the next 12 months and points towards an upward movement in prices going forward, CEO, Dhruv Agarwala said.
