Another strong month for GTA new-home sales

September 25, 2014

Another strong month for GTA new-home sales

Greater Toronto, September 25, 2014 - Sales of new homes and condominiums in the GTA continue to show strength, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source for new-home market intelligence, the new homes market is coming off a strong August with sales up 60 per cent from this time last year. Increases were recorded in both high-rise and low-rise sectors.

"With a limited amount of new project launches in August, these sales are a result of consumers' continued confidence in the market," explained BILD president and CEO Bryan Tuckey. "This affects levels of remaining inventory, which have been declining recently, particularly in the low-rise sector."

Inventory of ground-related homes in the GTA is bordering record-low levels at 6,670 homes while prices continue to grow.

The RealNet New Home Price Index shows average prices in the low-rise sector up five per cent, reaching a record high $688,923. The high-rise market also experienced an increase, growing two per cent to $446,710.
 
statistical backgrounder is available for viewing. For additional information, contact Andrei Zaretski or Aonghus Kealy.

August '14

Low Rise

High Rise

Total

Region

2012

2013

2014

2012

2013

2014

2012

2013

2014

Durham

120

140

205

12

6

14

132

146

219

Halton

75

110

154

16

49

92

91

159

246

Peel

252

269

360

64

45

55

316

314

415

Toronto

20

23

55

559

510

908

579

533

963

York

119

260

384

89

104

206

208

364

590

GTA

586

802

1,158

740

714

1,275

1,326

1,516

2,433

Jan-August

10,510

7,651

12,147

12,778

9,407

14,130

23,288

17,058

26,277

 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.

-30-