New homes sales show strength in numbers

GREATER TORONTO, Nov. 22, 2011 /CNW/ - The high-rise market in the GTA showed another strong month with 2,928 sales, making it the second-best October on record, the Building Industry and Land Development Association (BILD) revealed.

Current year-to-date high-rise sales of 23,747 also set a new record for most high rise sales in a year - surpassing the 22,316 high rise sales recorded in 2007, reported RealNet Canada Inc., BILD's official source of new home market intelligence.

The big contributor to this strong performance comes not from the City of Toronto, but from York Region, which saw high-rise sales more than double over its October 2010 counterpart, resulting in a 33 per cent increase year-to-date.

"There seems to be a new trend setting in over the last couple of months, with the 905 areas outperforming the Toronto when it comes to condo sales," said BILD Acting President Joe Vaccaro. "York Region has been particularly successful in this sector, likely as a result of some exciting new projects surrounding future transportation corridors."

The low-rise market in the GTA improved by 17 per cent in October, leaving total new home sales relatively unchanged from last year.

October '11   Low Rise     High Rise     Total    
Region 2010 2011 % Change 2010 2011 % Change 2010 2011 %Change
Durham 157 252 60.5% 10 12 20.0% 167 264 58.1%
Halton 300 369 23.0% 199 123 -38.2% 499 492 -1.4%
Peel 214 475 122.0% 135 97 -28.1% 349 572 63.9%
Toronto 123 62 -49.6% 2,667 1,676 -37.2% 2,790 1,738 -37.7%
York 567 434 -23.5% 421 1,020 142.3% 988 1,454 47.2%
GTA 1,361 1,592 17.0% 3,432 2,928 -14.7% 4,793 4,520 -5.7%
Jan-Oct 13,573 15,056 10.9% 17,852 23,747 33.0% 31,425 38,803 23.5%

Source: RealNet Canada Inc.

With more than 1,350 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:

Andrei Zaretski  Amy Lazar
Manager, Marketing & Media Relations                                                     Manager, Communications
416-391-3450 or 416-843-4898                                                  416-391-3452 or 416-543-3903
azaretski@bildgta.ca                                                         alazar@bildgta.ca

 


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