DCN ARCHIVES

January 14, 2013

Highrises majority of GTA new home sales

The first 11 months of 2012 saw 31,766 new home sales in the Greater Toronto Area (GTA) and the industry is poised to finish the year strong, says the Building Industry and Land Development Association (BILD).

"The demographic reality of the GTA is that 100,000 people move here every year and new residents need a home. Our industry will continue to meet the challenge of providing high quality highrise and low-rise homes and neighbourhoods for our growing population," said BILD president and chief executive officer Bryan Tuckey.

According to RealNet Canada Inc., 2,516 new homes were sold in November, with highrise homes accounting for 1,556 of new home sales with 960 new home sales in the low-rise sector.

The GTA continues to be a robust highrise market but the lack of affordability and choice in the ground-related market is a direct result of provincial policy that encourages intensification and constrains land supply, says BILD.

In addition, the industry has been monitoring consumer confidence since the federal government made changes to the mortgage rules in July and notes that first-time home buyers are those most affected under the new rules, which have taken a considerable portion of potential purchasers out of the market.

DCN NEWS SERVICES

Print | Comment

MOST POPULAR STORIES
TODAY’S TOP CONSTRUCTION PROJECTS

These projects have been selected from 415 projects with a total value of $3,354,507,550 that Reed Construction Data Building Reports reported on Tuesday.

HOSPITAL ADDN/ALTS

$200,000,000 Milton ON Tenders

HOTEL

$55,000,000 Ottawa ON Negotiated

SOLAR FARM

$30,000,000 Lennox and Addington Co ON Negotiated

Daily Top 10

CURRENT STORIES
TODAY’S TOP JOBS

Project Manager
Ontario-Oshawa

Estimator
Ontario-Toronto

Site/Field Coordinator
Ontario-Mississauga

Superintendent
Alberta-Red Deer

Operations Foreman
British Columbia-Vancouver

Earthworks Estimator
Ontario-King

Junior Construction Manager
Alberta-Fort McMurray

Estimator/Project Manager
Ontario-Gormley

Machinist
Alberta-Edmonton

Heavy Duty Mechanic
Alberta-Edmonton

More jobs 

myJobsite.ca

Your gateway to
the top careers
in construction
and design