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New home sales performing above average

Greater Toronto, October 22, 2014 - The new-home market in the GTA continues to perform above the 10-year average after three quarters, the Building Industry and Land Development Association (BILD) announced today.

According to RealNet Canada Inc., BILD's official source for new-home market intelligence, there were 30,143 sales of new homes and condominiums across the region as of Sept. 30 - up 54 per cent from last year and sitting nine per cent above the 10-year average.

"This continued increase in new-home sales shows that purchasers remain confident in the market," said BILD president and CEO Bryan Tuckey. "With the GTA experiencing an annual growth of up to 100,000 people, it is important that the industry builds approximately 35,000 homes each year so that they have a place to live."

High-rise sales in September resulted in the third-best on record, while sales of ground-related homes increased 39 per cent from September 2013.

The RealNet New Home Price Index for low-rise housing increased five per cent to $689,611 for a new record high. Meanwhile the high-rise market grew four per cent to $450,014.
 
A statistical backgrounder is available for viewing. For additional information, contact Andrei Zaretski or Aonghus Kealy.

September '14

Low Rise

High Rise

Total

Region

2012

2013

2014

2012

2013

2014

2012

2013

2014

Durham

151

245

200

11

0

18

162

245

218

Halton

68

253

161

13

70

101

81

323

262

Peel

447

300

535

78

79

221

525

379

756

Toronto

14

24

43

739

1,064

1,733

753

1,088

1,776

York

385

311

632

362

180

189

747

491

821

GTA

1,065

1,133

1,571

1,203

1,393

2,262

2,268

2,526

3,833

Jan-Sept

11,600

8,792

13,733

13,966

10,745

16,410

25,566

19,537

30,143

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.

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