Oct 19, 2005 - September new home sales on par

October 25, 2005

September new home sales on par

October 19, 2005

Toronto-- There were 3,108 new homes and condos sold in the Greater Toronto Area in September, virtually on par with September, 2004, when 3,154 new homes were sold announced Julie Di Lorenzo, president of the Greater Toronto Home Builders' Association today.

The new home sales figures were prepared for the GTHBA by RealNet Canada Inc.

With the first three quarters of the year on the books, total new home sales are up 4 per cent based on a 35 per cent surge in sales of high-rise condominium suites offset by a 10 per cent decline in low-rise (detached, semi-detached and townhouses) new home sales. Four in 10 units sold in the first three quarters of 2005 have been condominium suites.

The low-rise new home price index currently sits at $386,188 while the high-rise price index is at $290,906. The high-rise price index jumped 2.5 per cent over August and is up 11 per cent over September, 2005. The low-rise price index declined slightly from August but is up 12 per cent over September, 2005.

The index is essentially the average asking price of all the remaining new homes and condos currently available for sale. The new home price index is based on currently available new home offerings, weighted by remaining inventory, for projects of 15 or more units, excluding ultra-luxury product across the GTA.

The top five municipalities in the GTA for September were Toronto, 1029; Brampton, 436; Markham, 233; Vaughan, 231 and Mississauga, 221.

With more than 1,300 members, the GTHBA is the voice of the residential construction industry in the Greater Toronto Area. Established in 1921, the association is comprised of land developers, home builders, professional renovation contractors, sub-contractors, suppliers, service, professional and financial firms. We are proudly affiliated with the Ontario and Canadian Home Builders' Associations.

 

LOW-RISE

HIGH-RISE

TOTAL

Region

Sept 2004

Sept 2005

% Change

Sept 2004

Sept 2005

% Change

Sept 2004

Sept 2005

% Change

Durham

357

373

4%

64

22

-66%

421

395

-6%

Halton

523

265

-49%

7

31

343%

530

296

-44%

Peel

476

562

18%

76

99

30%

552

661

20%

Toronto

103

151

47%

898

878

-2%

1,001

1,029

3%

York

573

621

8%

77

106

38%

650

727

12%

GTA

2,032

1,972

-3%

1,122

1,136

1%

3,154

3,108

-1%


For further information:
Suzanna Cohen, Director of Communications 416-391-3450
Stephen Dupuis, Executive Vice President 416-391-3453