Another strong month for GTA new-home sales

GREATER TORONTO, Sept. 25, 2014 /CNW/ - Sales of new homes and condominiums in the GTA continue to show strength, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source for new-home market intelligence, the new homes market is coming off a strong August with sales up 60 per cent from this time last year. Increases were recorded in both high-rise and low-rise sectors.

"With a limited amount of new project launches in August, these sales are a result of consumers' continued confidence in the market," explained BILD president and CEO Bryan Tuckey. "This affects levels of remaining inventory, which have been declining recently, particularly in the low-rise sector."

Inventory of ground-related homes in the GTA is bordering record-low levels at 6,670 homes while prices continue to grow.

The RealNet New Home Price Index shows average prices in the low-rise sector up five per cent, reaching a record high $688,923. The high-rise market also experienced an increase, growing two per cent to $446,710.

A statistical backgrounder is available for viewing. For additional information, contact Andrei Zaretski or Aonghus Kealy.

August '14	Low Rise			High Rise			Total
Region	2012	2013	2014	2012	2013	2014	2012	2013	2014
Durham	120	140	205	12	6	14	132	146	219
Halton	75	110	154	16	49	92	91	159	246
Peel	252	269	360	64	45	55	316	314	415
Toronto	20	23	55	559	510	908	579	533	963
York	119	260	384	89	104	206	208	364	590
GTA	586	802	1,158	740	714	1,275	1,326	1,516	2,433
Jan-August	10,510	7,651	12,147	12,778	9,407	14,130	23,288	17,058	26,277

Source: RealNet Canada Inc.

With more than 1,400 members, BILD, formed through the merger of the Greater Toronto Home Builders' Association and Urban Development Institute/Ontario, is the voice of the land development, home building and professional renovation industry in the Greater Toronto Area.  BILD is proudly affiliated with the Ontario and Canadian Home Builders' Associations.

 

SOURCE: Building Industry and Land Development Association

Aonghus Kealy
Manager, Communications
416-391-3452 or 416-543-3903
[email protected]

Andrei Zaretski
Manager, Marketing & Media Relations
416-391-3450 or 416-843-4898
[email protected]