New home sales continue to improve in the GTA

GREATER TORONTO, March 19, 2014 /CNW/ - Sales of new homes and condominiums in the GTA continue to improve, extending year-over-year increases to seven months, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source for new-home market intelligence, sales in February edged out 2013 results while 2014 total sales for the first two months of the year were up 28 per cent.

February 2014 total new-home sales were up three per cent over last February with the low-rise sector showing a five-per-cent improvement while high-rise sales were up two per cent.

"Rising sales reinforce the fact that the GTA remains a great place to buy and enjoy a new home," said BILD President and CEO Bryan Tuckey. "Much of the credit goes to our members, who have continued to introduce quality, complete communities into the market."

The RealNet New Home Price Index showed a three-per-cent increase in the low-rise sector over February 2013, bringing the average purchase price of a detached, semi or townhome in the GTA to $656,814. Pricing for high-rise homes increased two per cent to $438,556.

A statistical backgrounder of February new-home sales is available for viewing. For additional information, contact Andrei Zaretski or Aonghus Kealy.

Feb '14	Low Rise			High Rise			Total
Region	2012	2013	2014	2012	2013	2014	2012	2013	2014
Durham	215	180	172	3	6	2	218	186	174
Halton	297	74	154	66	43	79	363	117	233
Peel	486	285	400	21	26	42	507	311	442
Toronto	20	55	35	710	804	885	730	859	920
York	551	481	364	164	181	72	715	662	436
GTA	1,569	1,075	1,125	964	1,060	1,080	2,533	2,135	2,205
Jan-Feb	2,733	1,650	2,117	1,705	1,741	2,230	4,438	3,391	4,347

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]