Affordability and new home inventory pulling homebuyers out of the GTA
By Lucas on Jul 12, 2016
According to Trimart Research Corporation, the north region of the Total Market Area (TMA) saw the largest gains in new low-rise sales throughout the spring, largely due to the success of Phase 1 of Belle Aire Shores in Innisfil by Fernbrook Homes, Pristine Homes, and Zancor Homes. The east region also had steady sales gains thanks to the success of Country Lane in Whitby by Heathwood Homes and Andrin Homes.
The fact that the north and east regions of the TMA are seeing huge sales gains this year is proof that homebuyers are beginning to extend their search outside of the main urban centres throughout the Greater Toronto Area (GTA). New home inventory has hit a record low in the GTA and Trimart reports that available lots decreased by nearly 7% last month.
Listed below are a few notable low-rise sites of the last month:
Belle Aire Shores by Fernbrook Homes, Pristine Homes, amd Zancor Homes
Placing first on this week’s Trimart Hot Spots list with an incredible 224 sales is Belle Aire Shores, the exciting master-planned Innisfil community by Fernbrook Homes, Pristine Homes, and Zancor Homes. Phase 1 featured 36’, 42’, and 50’ detached homes ranging from 1,404 to 3,684 square feet. Phase 1 is now sold out and the builders are collecting registrations for the highly anticipated Phase 2 release this fall.
Hawthorne South Village by Mattamy Homes
Coming in second with 153 sales recently is Hawthorne South Village, Mattamy Homes’ highly successful new home community in Milton. If you’re interested in calling Hawthorne South Village home, you need to stay tuned because there is a new release of village homes, two-storey townhomes, and 30’, 34’, and 36’ detached homes coming soon!
Country Lane by Heathwood Homes
The third spot is taken by Country Lane by Heathwood Homes. This Whitby community saw 73 sales recently. After a busy spring, the 36’ and 45’ detached homes are sold out, but there are some 26’ singles available, ranging from 2,023 to 3,364 square feet, with prices starting from $705,900.
Edgewood Greens by Flato Developments
Coming in fourth with 70 sales during its opening month is Edgewood Greens by Flato Developments. This new home community in Dundalk features 40’ and 50’ detached homes ranging from 1,500 to 2,978 square feet, with prices starting as low as $279,900. It’s affordable prices like these that are pulling homebuyers out of the GTA.
Country Lane by Andrin Homes
Tying for fourth and taking the final position on this week’s Trimart Hot Spots list is Andrin Homes’ Country Lane collection. Phase 1 featured 26’, 36’, and 45’ detached homes, ranging from 1,827 to 3,334 square feet, and they are completely sold out now! You will have to wait until Phase 2 to purchase from Andrin Homes at Country Lane in Whitby.
All information courtesy Trimart Research Corporation.
