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

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


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