New-homes market continues to show strength

August 21, 2014

New-homes market continues to show strength

Greater Toronto, August 21, 2014 - Sales of new homes and condominiums across the GTA continue to improve after a slow 2013, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source for new-home market intelligence, total new-home sales in July increased 41 per cent over July 2013. Year-to-date sales have also grown, up 52 per cent and sitting above the 10-year average. 

"While high-rise sales continue to drive the market, the low-rise sector has shown considerable strength," said BILD president and CEO Bryan Tuckey. "Sales of ground-related homes have recorded the highest July since 2009 while year-to-date sales are nearly on par with the 10-year average."

According to the RealNet New Home Price Index, pricing in the low-rise sector grew six per cent to $685,413 while prices of high-rise homes increased two per cent to $441,144.
 
statistical backgrounder is available for viewing. For additional information, contact Andrei Zaretski or Aonghus Kealy.

 

July '14

Low Rise

High Rise

Total

Region

2012

2013

2014

2012

2013

2014

2012

2013

2014

Durham

123

209

243

18

6

30

141

215

273

Halton

111

55

177

37

82

320

148

137

497

Peel

350

226

391

265

68

36

615

294

427

Toronto

42

26

79

848

877

843

890

903

922

York

205

299

336

187

88

272

392

387

608

GTA

831

815

1,226

1,355

1,121

1,501

2,186

1,936

2,727

Jan-July

9,911

6,849

10,894

12,100

8,693

12,655

22,011

15,542

23,549

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-

For additional information or to schedule an interview, please contact Andrei Zaretski at 416-391-3450 or Aonghus Kealy at 416-391-3452.