1,719 votes of confidence in new homes in September



    TORONTO, Oct. 22 /CNW/ - There were 1,719 votes of confidence in the new
home market in September which, considering the economic and political
volatility prevalent throughout the month, suggests that savvy homebuyers are
taking a long-term view of the market, Michael Moldenhauer, president of the
Building Industry and Land Development Association, said today.
    While acknowledging a sharp slowdown in sales in September 2008 vs. 2007,
Moldenhauer expressed pleasant surprise that so many buyers recognized the
importance of taking a long-run view of real estate. "The people that are
currently buying new homes are buying for all the right reasons," said
Moldenhauer. "They are looking for a home to start a family, to put down
community roots and to begin the long-term process of building equity," he
added.
    "Wherever builders have a unique product offering, be it competitive
pricing, a special location, green features or simply a grand opening, they
are finding buyers," Moldenhauer stated.
    Moldenhauer noted that through the first three quarters of 2008, there
have been nearly 24,000 new homes and condos sold across the GTA, ensuring a
healthy, albeit reduced level of new home construction activity throughout
2009.

    
    -------------------------------------------------------------------------
              Low Rise             High Rise               Total
    September
    ---------------------    %     ------------    %    -------------    %
                          Change                Change                Change
    Region   2007   2008           2007   2008           2007   2008
    -------------------------------------------------------------------------
    Durham    287    188  -34.5%     20      8  -60.0%    307    196  -36.2%
    -------------------------------------------------------------------------
    Halton    268    156  -41.8%     18    152  744.4%    286    308    7.7%
    -------------------------------------------------------------------------
    Peel      326    178  -45.4%    177     60  -66.1%    503    238  -52.7%
    -------------------------------------------------------------------------
    Toronto   116     56  -51.7%  1,958    644  -67.1%  2,074    700  -66.2%
    -------------------------------------------------------------------------
    York      692    235  -66.0%    189     42  -77.8%    881    277  -68.6%
    -------------------------------------------------------------------------
    GTA     1,689    813  -51.9%  2,362    906  -61.6%  4,051  1,719  -57.6%
    -------------------------------------------------------------------------
    Jan to
     Sept  17,314 11,131  -35.7% 17,585 12,699  -27.8% 34,899 23,830  -31.7%
    -------------------------------------------------------------------------
    
    Source: RealNet Canada Inc.

    With more than 1,500 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.





For further information:

For further information: Cynthia Malagerio, Manager of Communications,
(416) 391-3450 or (416) 951-4081, communications@bildgta.ca; Stephen Dupuis,
Chief Executive Officer, (416) 391-3453 or (416) 948-8654, sdupuis@bildgta.ca


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