January 4, 2013
Toronto resale housing numbers take a tumble in 2012
Resale housing numbers in the Greater Toronto Area took a dip in December 2012 with a reported 3,690 sales, down from 4,585 sales in December 2011, according to Greater Toronto Area REALTORS.
The total sales figures for 2012 are reported to be 85,731, which is short of the 89,096 sales made in 2011.
Despite the decline in the number of transactions, the average selling price in December 2012 was up 6.5 per cent to $478,739. The average selling price during 2012 also rose seven per cent to $497,298.
According to Toronto Real Estate Board President Ann Hannah, there were a number of factors that contributed to the declining figures this year.
“Stricter mortgage lending guidelines resulted in some households postponing their purchase of a home,” she said. “In the City of Toronto, the dip in sales was compounded by the additional Land Transfer Tax, which buyers must pay upfront.”
| MOST POPULAR STORIES |
- OPG $1 billion proposal to bury nuclear waste up for comment
- Hundreds of workers to be out of work as Caterpillar Inc. is set to close Toronto factory
- Proposed Ambassador Bridge twinning draws Windsor mayor’s ire
- Construction on pedestrian tunnel to Billy Bishop Airport continues to make progress
- Ontario prompt payment bill to get second reading today
- 20 Most Popular Stories
| TODAY’S TOP CONSTRUCTION PROJECTS |
These projects have been selected from 316 projects with a total value of $2,787,806,637 that Reed Construction Data Building Reports reported on Friday.
SENIORS CONDOMINIUM APARTMENT & OFFICE BLDG
$90,000,000 Richmond Hill ON Prebid
$82,000,000 White River Twp ON Tenders
CONDOMINIUM APARTMENT BUILDING
$40,650,000 Markham ON Prebid
| CURRENT STORIES |
- VIDEO: Economic Update May 21, 2013
- VIDEO: Competing in the trades
- Multi-employer approach needed in apprenticeships
- New Perspective
- ACEC’s input helps develop global engineering guidelines
- Clerk of works position gives peace of mind on projects
- World Trade Center developer’s plan for a 926-foot tower moving ahead
- Call for action after MOL says workers are responsible for their own safety
- Cold spring and weak construction hurt Deere’s 2013 predictions
- CanBIM reschedule June session
- More green roofs top Toronto buildings
- Witness recants testimony in Montreal corruption case
- Construction Site Arson
- Industry reacts to surprise B.C. Liberal majority
- Journal of Commerce Update for the week of May 20th, 2013
- Calgary Airport Tunnel
- Worker at centre of union sign up allegations speaks out
- Calgary program aims to get more people into the trades
- Midrise in the City
- Veterans battle barriers into the trades
- Government makes changes to online tendering
- SNC-Lavalin maintains that new bribery allegations have been resolved
- B.C. faces a tough battle for top talent
- Keyano College building state of the art training facility
- Essential skills can play a vital role in an apprentices' success
- Taking a closer look at the risks in green building for contractors
- Colleges conduct construction research in addition to teaching
- Skills Canada BC Competition
- Lower Mainland high school trades program is unique
- Construction Learning Forum aims to educate
- High schools looking for more industry participation
- Industrial construction supervisor program takes off
- Saskatchewan bill passed
- Edmonton garners support for regional cash for arena
- Feds pledge $5 million for Vimy memorial
| ALEX’S ECONOMICS BLOG |
Reed Construction Data Canada’s Chief Economist Alex Carrick discusses current developments in the North American economic environment with emphasis on the construction industry.
- An Overview of Prices and Sales in the Diverging U.S. and Canadian Housing Markets (April 25, 2013)
- Canada’s Precarious Dependence on the Commodity Price Super-Cycle (April 22, 2013)
- Twenty major upcoming residential and transportation terminal construction projects - April 2013 (April 15, 2013)
- More
