Housing prices dip 2-9% across 8 major cities in April: Report


New Delhi: Housing prices have declined 2-9 per cent across eight cities in April as a result of nationwide lockdown which affected the demand badly, based on actual property portal Magicbricks.

The lower has been recorded in opposition to the value ranges of the earlier month.

In its newest report, Magicbricks has analysed the value modifications throughout the month of lockdown and noticed that “the prices have decreased by 2-9 per cent across cities”.

Eight Tier-I cities witnessed a mean value decline of round four per cent throughout the lockdown (March 15 to April 15), it added.?

The prices are of major and secondary markets being quoted by the sellers on its web site.

“Magicbricks research analysis suggests that prices have rationalised in most of the cities and reached the same level as they were one year back,” the report mentioned.

As per the information, prices declined 9 per cent in Hyderabad, 5 per cent in Bengaluru, four per cent every in Kolkata and Chennai, three per cent in Delhi-NCR, and a couple of per cent every in Mumbai and Pune.

Magicbricks ‘COVID-19 Property Buyer Sentiment Survey’ discovered that one out of three dwelling consumers wish to drop or carry on maintain their property shopping for choice.

However, a big majority of 67 per cent are nonetheless planning to go forward with their funding though with a diminished price range, it mentioned.

 

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