High-rise condo sales set pace in January

TORONTO, Feb. 22 /CNW/ - The first statistics on the GTA new housing market for 2011 reveal a good start to the New Year, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source of new home market information, there were 2,335 new homes and condominium suites sold in the Greater Toronto Area in January. While total sales were down 13 per cent from the January prior, high-rise sales reached their second highest level in the last 11 years (since 2000).

BILD President and CEO Stephen Dupuis indicated that 2,335 unit sales in January is quite respectable considering that most builders are using that month to sell inventory as they prepare to launch new phases and projects in February and March.

"January is not a heavily weighted month in the grand scheme of things, but sales of over 2,300 units in January bodes well for the Spring market," Dupuis said.

January '11 Low Rise     High Rise     Total    
Region 2010 2011 % Change 2010 2011 % Change 2010 2011 %Change
Durham 216 166 -23.1% 7 8 14.3% 223 174 -22.0%
Halton 123 212 72.4% 46 25 -45.7% 169 237 40.2%
Peel 309 262 -15.2% 73 90 23.3% 382 352 -7.9%
Toronto 78 43 -44.9% 824 675 -18.1% 902 718 -20.4%
York 540 412 -23.7% 119 133 11.8% 659 545 -17.3%
GTA 1,266 1,095 -13.5% 1,069 931 -12.9% 2,335 2,026 -13.2%
Jan-Jan 1,266 1,095 -13.5% 1,069 931 -12.9% 2,335 2,026 -13.2%

Source:  RealNet Canada Inc.

With more than 1,350 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:

Andrei Zaretski  Stephen Dupuis
Manager, Marketing & Media Relations                                                     President, Chief Executive Officer
416-391-3450 or 416-843-4898                                                  416-391-3453 or 416-948-8654   
azaretski@bildgta.ca                                                       sdupuis@bildgta.ca


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