New condo sales up again in August



    TORONTO, Sept. 24 /CNW/ - The hottest summer ever for new home sales is
officially in the books with more than 13,000 new homes and condos sold across
the Greater Toronto Area in the June/July/August period, Bob Finnigan,
president of the Building Industry and Land Development Association said today
on the release of the latest monthly statistics.
    According to RealNet Canada Inc., low-rise (single-detached,
semi-detached, town-homes) sales were off 12 per cent from last August while
high-rise (condominium suites and lofts) sales were up yet again, by 5 per
cent compared with August, 2006, resulting in total August sales being just
4.8 per cent less than in 2006.
    "Following 33 and 59 per cent increases in June and July respectively,
new home buying activity moderated in August, but the 2,848 new homes sales
still put a healthy point on an unprecedented summer surge," Finnigan said.
    Finnigan revealed that year-to-date new home sales are up 15 per cent
compared with 2006, with low-rise sales up 5 per cent and high-rise sales up
an impressive 25 per cent.
    "What's most interesting about the sales statistics is the fact that
through the first eight months of 2007, high-rise sales have accounted for
49 per cent of total sales. If the sales trends hold, this could be the first
year that high-rise sales out-strip low-rise sales," Finnigan said.
"Obviously, high-rise living is appealing to a lot of people and they are
taking advantage of the multitude of choices available to them," he added.

    
    --------------------------------------------------------
                Low Rise                High Rise
    --------------------------------------------------------
             August  August    %     August  August    %
    Region    2006    2007   Change   2006    2007   Change
    --------------------------------------------------------
    Durham     270     228   -15.6%     18      39   116.7%
    --------------------------------------------------------
    Halton     342     293   -14.3%      3      11   266.7%
    --------------------------------------------------------
    Peel       478     421   -11.9%    351     125   -64.4%
    --------------------------------------------------------
    Toronto     87      77   -11.5%    823   1,066    29.5%
    --------------------------------------------------------
    York       529     478    -9.6%     92     110    19.6%
    --------------------------------------------------------
    GTA      1,706   1,497   -12.3%  1,287   1,351     5.0%
    --------------------------------------------------------

    --------------------------------
                 Total
    --------------------------------
             August  August    %
    Region    2006    2007   Change
    --------------------------------
    Durham     288     267    -7.3%
    --------------------------------
    Halton     345     304   -11.9%
    --------------------------------
    Peel       829     546   -34.1%
    --------------------------------
    Toronto    910   1,143    25.6%
    --------------------------------
    York       621     588    -5.3%
    --------------------------------
    GTA      2,993   2,848    -4.8%
    -------------------------------
    Source: RealNet Canada
    





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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