BILD announces new construction figures
By on Dec 01, 2010
The Greater Toronto Area continues to see a spike in new condo sales, the Building Industry and Land Development Association (BILD) reports.
RealNet Canada Inc, who are BILD's official source of new home market data, reports 4,535 new home and condos sold in October, which amounts to the best October results since 2000, and the second best month ever for high rise sales after June 2007.
"Although the City of Toronto continues to account for the bulk of all condo sales (76 per cent in October), the biggest spikes in activity were in the Regions of Peel, (particularly Mississauga) and York (particularly Markham and Vaughan), which were up 164 and 138 per cent respectively," said BILD President and CEO Stephen Dupuis.
"The high-rise housing craze has started to spread to the suburbs and it's a trend which will continue to grow."
Condo sales are up over 27% against October 2009, and are currently running over 52% ahead of the January - October 2009 period. An astonishing seven out of ten new homes sold in October where a high rise suite, and 56% of the 30,914 housing units sold have been high rise condos on a year to date basis.
