New Delhi, March 17 -- The homogeneity of sales and price growth across the top cities post pandemic is waning. HSBC Securities said in a 27 February report that while the National Capital Region (NCR) continues to do better than the others, Hyderabad's deterioration is evident with decline in the number of units and value sold, and four consecutive quarters of declining project launches. Even Bengaluru is slowing, with two quarters of decline in units sold despite launch growth. Average apartment size is peaking in some cities. Hyderabad, Bengaluru and Ahmedabad showed moderation in the growth of apartment sizes.

Home sales were driven by the demand to upgrade, which, in turn, was partly driven by the wealth effect created by the stock ...