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The housing market looks enthused with the reports emerging from developed markets show that the inflationary trend is being tightened across the globe.
More so, the market survey and intelligence agencies are predicting positive trends in the homebuyer segment considering various incentives offered by the government such as reduced waivers in duty and GST and also flexible payment plans from Home Loan companies and banks would influence the buyers creating robust home-market.
Notwithstanding falling income levels, raising interest rates and growing prices of building materials, the housing industry is optimistic about sustainable demand for housing sector in the second financial year 2024.
The industry majors are getting positive enquires from the home buyers and looking for homes to meet their budget needs. The more sought after property class is ready-to-move properties and gated communities.
According to one survey, the consumer outlook is positive in the next six months and predictably it may continue further. Even as, the RBI’s consumer confidence survey also pointing improvement in sentiments in term of overall economic scenario.
If we consider the leading indicators, Manufacturing and Services Purchasing Managers’ Index (PMI) is in expansion zone moving from 58.6 to 60.1 in August 2023.
Similarly, the consumption indicators like fuel, power, GST collections etc are maintained upward growth in the first half of 2023.
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