April new home sales encouraging



    TORONTO, May 26 /CNW/ - There were more new homes sold in the Greater
Toronto Area in April, 2009 than in any other month since the onset of the
global economic crisis last Fall, the Building Industry and Land Development
Association revealed today.
    According to RealNet Canada Inc., BILD's official source of new home
market information, there were 1,880 new homes and condos sold in the GTA in
April, compared with 1,485, or 876, 616, and 476 and units sold in the five
months prior, respectively.
    Expressing "pleasant surprise," BILD President and CEO Stephen Dupuis
noted that while the trend line is improving, new home sales were still down
26 per cent compared with April, 2008, and the market remains extremely
price-sensitive.
    "Home builders have really sharpened their pencils to attract homebuyers
and where the builder can add value, buyers are responding positively. On the
other hand, any price increase where the buyer gets nothing in return, such as
under the provincial government's proposed HST on new homes, will be
seen-through and rejected by homebuyers, at the expense of construction jobs
and related spin-off benefits," Dupuis noted.
    Dupuis further commented that the low-rise (single-detached,
semi-detached, town-homes) market has been much stronger than the high-rise
condo market so far this year, reflecting a more nimble response by low-rise
builders to changed market circumstances.

    
    -------------------------------------------------------------------------
    April            Low Rise             High Rise            Total
    -------------------------------------------------------------------------
                              %                     %                    %
    Region    2008  2009    Change  2008  2009    Change  2008  2009   Change
    -------------------------------------------------------------------------
    Durham     273   223    -18.3%    18     5   -72.2%    291   228   -21.6%
    -------------------------------------------------------------------------
    Halton     280   295      5.4%    10     3   -70.0%    290   298     2.8%
    -------------------------------------------------------------------------
    Peel       246   331     34.6%   101    97    -4.0%    347   428    23.3%
    -------------------------------------------------------------------------
    Toronto     75    54    -28.0%   798   398   -50.1%    873   452   -48.2%
    -------------------------------------------------------------------------
    York       642   426    -33.6%    98    48   -51.0%    740   474   -35.9%
    -------------------------------------------------------------------------
    GTA      1,516 1,329    -12.3% 1,025   551   -46.2%  2,541 1,880   -26.0%
    -------------------------------------------------------------------------
    Jan-
     April   5,613 3,388    -39.6% 4,558 1,469   -67.8% 10,171 4,857   -52.2%
    -------------------------------------------------------------------------
    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.





For further information:

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


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