New home sales continue to climb

GREATER TORONTO, May 23, 2014 /CNW/ - New-home sales in the GTA remain strong as April figures show continuous improvement over 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, the GTA saw 3,243 new-home and condominium transactions in April – a 17-per-cent increase over April 2013.

Total year-to-date sales increased 46 per cent from 2013.

Sales of detached, semis and townhomes were up 83 per cent and sit just below the 10-year average. High-rise sales were down 19 per cent from 2013, due largely in part to limited new project launches in April.

"Our industry continues to build quality, complete communities that people can afford to purchase," said BILD President and CEO Bryan Tuckey. "Year-to-date sales are well above the 10-year average, which means GTA residents continue to view the high-rise market as an affordable path to homeownership."

According to the RealNet New Home Price Index, the average price of a low-rise home increased six per cent to $667,667 while the average price of a high-rise home grew one per cent to $437,366.

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

April '14

Low Rise

High Rise

Total

Region

2012

2013

2014

2012

2013

2014

2012

2013

2014

Durham

271

166

274

7

3

12

278

169

286

Halton

170

76

242

148

215

67

318

291

309

Peel

713

391

485

328

139

44

1,041

530

529

Toronto

62

62

126

2,245

1,253

1,189

2,307

1,315

1,315

York

606

293

678

210

170

126

816

463

804

GTA

1,822

988

1,805

2,938

1,780

1,438

4,760

2,768

3,243

Jan-April

6,382

3,620

5,767

6,730

4,725

6,411

13,112

8,345

12,178

 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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