Page 3 - Housing Inflation

India's housing market to continue with high demand, growth in 2024

India's housing market defied logic this year to register all-time high sales as home buyers snapped up deals despite a jump in asking prices and the highest interest rates in six years. Market experts strongly believe the demand will not only sustain in 2024 but rise further, albeit at a slower pace, on high economic growth and expectations of a fall in home loan interest rate. The real estate industry saw record sales of residential properties in terms of both volumes and value, real estate market data showed as consumers are increasingly buying into the idea of home ownership post-Covid pandemic. The ouster of dubious developers from the real estate market thanks to greater regulatory oversight via RERA helped boost confidence among home buyers. The insolvency law too has played a role in elimination of defaulting builders. According to real estate consultant Anarock, housing sales are estimated to rise by 30 per cent this year to a record 4.74 lakh units in primary (fresh sales

US consumer confidence rises to five-month high, home sales eke out gains

Though consumers continued to worry about inflation, many were planning to buy motor vehicles, houses and major appliances like refrigerators and clothes dryers over the next six months

US economy still strong as retail sales beat expectations, layoffs stay low

Retail sales increased 4.1% year-on-year in November. Though the pace has slowed as households adjust to higher borrowing costs and prices, it remains sufficient to ward off a recession

US consumer spending slows in October, weekly jobless claims rise slightly

Fears that the economy could slide into recession in early 2024 could see households reluctant to spend and instead build their savings

Sale of new US single-family homes falls more than expected in October

New home sales dropped 5.6% to a seasonally adjusted annual rate of 679,000 units last month, the Commerce Department said on Monday

Sales of apartments in Jan-Sep rise 21% to 196,227 units: JLL report

Sales of apartments during the January-September period went up 21 per cent year-on-year to 1,96,227 units across seven major cities on better demand, according to property consultant JLL India. As many as 1,61,575 units were sold in the same period last year. Sales of apartments in January-September period of this year have already touched 91 per cent of 2022 annual sales. "With the onset of the festive season, robust sales are expected in the upcoming quarter and as a result, annual sales in 2023 are expected to surpass sales of 215,000 units recorded in the previous year," JLL India said in a statement on Monday. Across seven major cities, new launches of apartments also rose 21 per cent to 2,23,905 units during the first nine months of 2023 from 1,84,317 units in the year-ago period. The seven cities tracked were Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, and Pune. Mumbai includes Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai. JLL said the data incl

RBI MPC: When and where to watch policy announcement by Shaktikanta Das

Experts have said that RBI is likely to keep the repo rate unchanged at 6.5 per cent in view of elevated inflation and other global factors

India house prices on track for steady rises, affordability to worsen

The outlook was more upbeat and stable compared with companion polls of property markets in developed economies, where house prices are expected to fall or stagnate after surging as much as 50%

Even at 4.25% inflation rate, Das sees disinflation process as protracted

Waning of base effect and uncertainty over monsoon may come in the way of disinflation, going forward

Core inflation still remains elevated, may not fall below 5% in FY24

The core inflation has remained stuck in the range of 5-6.6 per cent for over two years

High inflation, lower-demand drive car sales in Pakistan down by 84% YoY

For April 2023, only 2,844 units were sold against 18,826 units sold in April 2022

Greek Inflation impacting coffee cups, people cutting consumption

Meeting over a cup of coffee has long been an integral part of Greek culture. However, the inflationary pressure of the past year has forced 54 per cent of people to cut back on their caffeine habit

A $1.5 trillion wall of debt is looming for US commercial properties

The investment bank estimates office and retail property valuations could fall as much as 40% from peak to trough, increasing the risk of defaults

Global house prices set to decline, risk of more with higher rates

That in turn has pushed up rents sharply in most markets, leaving the overall cost of housing much more expensive in just the past few years

India's rising home prices, rentals a new inflation threat: Analysis

Urban housing inflation rose to 4.47% year-on-year in December 2022

Godrej Properties announces acquisition of 60-acre land parcel in Chennai

The real estate development arm of Godrej Group said it would develop a residential project on the land

Australia's housing prices mark largest annual decline of 5.3% since 2008

According to the report, despite the downturn across many areas of the country, housing values generally remain 11.7% above where they were at the onset of the Covid-19 pandemic

Go ahead with house purchase in 2023 despite high loan rates

By the time interest rates moderate, prices could move higher

LIC Housing Finance raises lending rates by 35 bps, cites market conditions

'Good sustenance in home buying', says mortgage lender in statement

Older house can offer price and location advantage, say experts

But ensure repair expenses don't erode initial gain; also carry out title check