Home Real Estate India’s wobbling housing market to regain its feet next year – Reuters...

India’s wobbling housing market to regain its feet next year – Reuters poll

3

Labourers work at the construction site of a building in Mumbai May 11, 2009. REUTERS/Punit Paranjpe

BENGALURU, Aug 26 (Reuters) – India’s wobbly housing market will find its footing next year, boosted by a recovery from the pandemic and easy monetary policy, according to property analysts in a Reuters poll who were split on what that would mean for affordability.

The Aug. 11-24 poll predicted house prices would grow on average 2.5% nationwide this year, an upgrade from next to nothing, 0.75%, expected in a survey three months ago.

But that forecast was significantly more modest than expectations in similar Reuters polls for most major housing markets, which are already up in double digits this year.

Average Indian house prices were forecast to rise 4.5% next year and 5.5% in 2023, outstripping consumer price inflation by then, partly because raw material costs for builders are due to keep rising.

“The trend of demand remaining buoyant can be attributed to…

Click here for full article…www.reuters.com