J.D. Power and Associates Reports: Toronto New Condominium Builders Make Considerable Gains in Customer Satisfaction



    Tridel Ranks Highest in Satisfying New Condominium Buyers in the Greater
    Toronto Area for a Second Consecutive Year

    TORONTO, Oct. 3 /CNW/ - Condominium builders in the Greater Toronto Area
(GTA) are improving steadily in satisfying new-home buyers compared with 2006,
according to the J.D. Power and Associates 2007 Canadian New Condominium
Builder Customer Satisfaction Study(SM) released today.
    The study, now in its second year, measures customer satisfaction of
condominium buyers throughout the purchase and early ownership experience.
Buyers are asked to evaluate their builder in nine factors: sales staff;
design centre; home and building readiness; customer service; price/value;
physical design; building features/amenities; home quality; and location.
    The GTA market average satisfaction score has increased to 620 (on a
1,000-point scale) in 2007 from 588 in 2006 - representing a gain of 5.4
percent. While GTA builders have made improvements across all nine factors
that contribute to overall satisfaction, the most notable gains are in three
areas: home and building readiness, physical design and building
features/amenities.
    "It is clear that many builders are focusing more intently on the
expressed needs and desires of home buyers," said Darren Slind, senior
director of the real estate and performance improvement practices at the
Canadian office of J.D. Power and Associates. "These builders are responding
with an improved new-condominium purchase and ownership experience that more
closely matches customer expectations. Condominium builders have made great
strides in areas that matter most to buyers, such as increasing the ease of
onsite move-in, improving the condition of the suite and building exterior at
occupancy, and enhancing the usability and functionality of balconies and
patios."
    Tridel Corporation ranks highest in new-condominium buyer satisfaction in
the GTA for a second consecutive year with an index score of 767. Tridel
performs particularly well in seven of the nine factors that contribute to
overall satisfaction: sales staff; design centre; physical design elements;
home quality; home and building readiness; warranty service and building
features/amenities. Daniels Corporation and Monarch Corporation follow Tridel
in the rankings with scores of 712 and 682, respectively. All three builders
show considerable improvement in overall customer satisfaction performance
compared with 2006.
    The study finds that the frequency and quality of communication between
the builder and the condominium buyer has a strong impact on customer
satisfaction.
    "One of the common strengths of the highest-ranking builders is that they
are very proactive in communication with their customers," said Slind. "They
don't wait for the home buyer to call to ask for construction status updates
or to report problems after they've moved in. These builders invest
considerable time and effort to keep their buyers informed and engaged
throughout the entire purchase and early ownership period, which can span up
to three years," said Slind.
    The study also finds that the need for pro-active communication extends
to the property management team. For example, nearly one of every two new
condominium owners report that no formal introduction was made to the property
management team, which has a negative impact on satisfaction. Similarly, the
availability of the property management team and the timeliness of their
communication with residents also have a strong impact on customer
satisfaction.
    The 2007 Canadian New-Home Builder Customer Satisfaction Study is based
on the responses of 1,499 buyers within the Greater Toronto Area whose
condominium homes registered in calendar year 2006. The study was fielded from
March to May 2007. J.D. Power and Associates also measures customer
satisfaction with new-home builders (low-rise homes) in the Greater Toronto
and Ottawa-Carleton markets. For more comprehensive information on GTA and
Ottawa-Carleton builders, visit the J.D. Power Consumer Center at
www.jdpower.com/canada.

    About J.D. Power and Associates

    Headquartered in Westlake Village, Calif., J.D. Power and Associates is
an ISO 9001-registered global marketing information services firm operating in
key business sectors including market research, forecasting, performance
improvement, training and customer satisfaction. J.D. Power and Associates is
a business unit of The McGraw-Hill Companies.

    About The McGraw-Hill Companies

    Founded in 1888, The McGraw-Hill Companies (NYSE:   MHP) is a leading
global information services provider meeting worldwide needs in the financial
services, education and business information markets through leading brands
such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power
and Associates. The Corporation has more than 280 offices in 40 countries.
Sales in 2006 were $6.3 billion. Additional information is available at
http://www.mcgraw-hill.com.

    No advertising or other promotional use can be made of the information in
    this release without the express prior written consent of J.D. Power and
    Associates. www.jdpower.com/corporate

    
                     NOTE: Chart available upon request
    






For further information:

For further information: Media Relations Contacts: Alexandra Cygal, Cohn
& Wolfe, Toronto, Canada, (647) 259-3266, alexandra.cygal@cohnwolfe.ca; Lynn
Bisnaire, Cohn & Wolfe, Toronto, Canada, (647) 259-3267,
lynn.bisnaire@cohnwolfe.ca

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