Chart of the day: Leasing volume of private residential units continues QoQ plunges
The contraction, however, was not due to slow demand but limited completions.
This chart from Savills shows the quarter-on-quarter (QoQ) leasing volume of private residential properties, with leasing volume in the second quarter (Q2) of 2022 falling by 8.7%.
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This was a much larger decreased compared to the 5% QoQ decrease in Q1. The dip on volume is also the third consecutive quarter decrease.
“The contraction in leasing volume does not imply slower rental demand but may be due to limited completions as the residential market continues to be affected by construction delays,” Savills said.