Mumbai housing sales down by 9%: ANAROCK

ANAROCK

As on Q3 2019, MMR had an unsold stock of nearly 2,20,870 units, Thane has total unsold stock of 34,950 units and Navi Mumbai has unsold inventory of 39,530 units.

New Supply Overview

• Of the total 14,040 new units launched in entire MMR in Q3 2019, Mumbai witnessed new supply of 9,390 units comprising 67% share, followed by Navi Mumbai which saw launch of 2,430 new units (17% share) while Thane saw 2,220 units launched during the period.
• On y-o-y basis, new stock in Mumbai reduced by 33%. It was 14,040 units in Q3 2018 – exactly the same number of launches that is seen by entire MMR in this quarter. Quarterly decline recorded was 38%.
• Navi Mumbai saw its new supply reduce by 21% in the third quarter this year – from 3,060 units in Q3 2018 to 2,030 units in Q3 2019. On q-o-q, new supply declined by 34% and was 3,710 units in Q2 2019.
• Thane saw its new stock decline by 19% on y-o-y basis. It was 2,740 units in Q3 2018 and now stands at 2,220 units in Q3 2019. It saw 48% decline over the preceding quarter – Q2 2019.

Absorption Overview

• Of the total 17,180 units sold in entire MMR in Q3 2019, Mumbai witnessed housing sales of 11,630 units comprising over 68% share in entire region. On y-o-y basis, the city saw its sales decline by 9%. It was 12,750 units in Q3 2018. On quarterly basis, housing sales in Mumbai fell by 22% – from 14,850 units in Q2 2019.
• Thane witnessed yearly reduction of meagre 1% in Q3 2019 – from 2,690 units in Q3 2018 to 2,660 units in Q3 2019. Q-o-Q, the city saw 16% decline in housing sales. Approx. 3,170 units were sold in Thane in Q2 2019.
• Navi Mumbai saw housing sales rise yearly by 5% – from 2,740 units in Q3 2018 to 2,890 units in Q3 2019. However, on q-o-q basis, sales declined by 13% from 3,340 units in Q2 2019.

Unsold Inventory

• As on Q3 2019, MMR had an unsold stock of nearly 2,20,870 units. Of this, Mumbai comprised 66% share with approx. 1,46,380 unsold units. On yearly basis, the city was able to shed its unsold stock by 3% while q-o-q it only saw 1% reduction in the unsold stock.
• Thane has total unsold stock of 34,950 units as on Q3 2019, declining by 1% on quarterly basis and by 2% on y-o-y. Unsold stock as on Q3 2018 was 35,700 units approx.
• Navi Mumbai’s unsold inventory is at 39,530 units in this quarter. Q-o-q, inventory declined by 1% from 39,990 units in Q2 2019. On yearly basis, the city saw its unsold stock pile by 7%. Unsold inventory was 37,000 units in Q3 2018.