New-homes market continues to show strength

GREATER TORONTO, Aug. 21, 2014 /CNW/ - Sales of new homes and condominiums across the GTA continue to improve after a slow 2013, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source for new-home market intelligence, total new-home sales in July increased 41 per cent over July 2013. Year-to-date sales have also grown, up 52 per cent and sitting above the 10-year average.

"While high-rise sales continue to drive the market, the low-rise sector has shown considerable strength," said BILD president and CEO Bryan Tuckey. "Sales of ground-related homes have recorded the highest July since 2009 while year-to-date sales are nearly on par with the 10-year average."

According to the RealNet New Home Price Index, pricing in the low-rise sector grew six per cent to $685,413 while prices of high-rise homes increased two per cent to $441,144.

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

July '14 Low Rise High Rise Total
Region 2012 2013 2014 2012 2013 2014 2012 2013 2014
Durham 123 209 243 18 6 30 141 215 273
Halton 111 55 177 37 82 320 148 137 497
Peel 350 226 391 265 68 36 615 294 427
Toronto 42 26 79 848 877 843 890 903 922
York 205 299 336 187 88 272 392 387 608
GTA 831 815 1,226 1,355 1,121 1,501 2,186 1,936 2,727
Jan-July 9,911 6,849 10,894 12,100 8,693 12,655 22,011 15,542 23,549

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

For further information:


Aonghus Kealy
Manager, Communications 
416-391-3452 or 416-543-3903 
akealy@bildgta.ca

Andrei Zaretski
Manager, Marketing & Media Relations
416-391-3450 or 416-843-4898
azaretski@bildgta.ca