High-Rise Market Remains Strong
November 24, 2011
The high-rise market in the GTA posted another strong month in October, with 2,928 sales, making it the second-best October on record, according to the Building Industry and Land Development Association (BILD).
The current number of high-rise sales of 23,747 on a year-to-date basis, also set a new record for the most high rise sales in a year – surpassing the 22,316 sales record in 2007.
York Region was the largest contributor to October’s strong performance, which saw high-rise sales more than double over the same period in 2010. There was a 33 per cent increase on a year-to-date basis.
BILD Acting President Joe Vaccaro says, “There seems to be a new trend setting in over the last couple of months, with the 905 areas outperforming the Toronto area when it comes to condo sales. York Region has been particularly successful in this sector, likely as a result of some exciting new projects surrounding future transportation corridors.”
The low-rise market in Toronto was up 17 per cent in October, leaving the total new home sales similar to last year’s total.
| October '11 |
Low Rise |
|
High Rise
|
|
Total
|
|
| Region |
2010 |
2011 |
% Change |
2010 |
2011 |
% Change |
2010 |
2011 |
% Change |
| Durham |
157 |
252
|
60.5%
|
10 |
12 |
20% |
167 |
264 |
58.1% |
| Halton |
300 |
369 |
23% |
199
|
123 |
-38% |
499 |
492 |
-1.4% |
| Peel |
214
|
475 |
122% |
135 |
97 |
-28.1% |
349
|
572 |
63.9% |
| Toronto |
123 |
62 |
-49.6% |
2,667 |
1,676 |
-37.2% |
2,790 |
1,738 |
-37.7%
|
| York |
567 |
434
|
-23.5% |
421 |
1,020 |
142.3% |
988 |
1,454 |
47.2% |
| GTA |
1,361
|
1,592 |
17% |
3,432 |
2,928 |
-14.7% |
4,793 |
4,520 |
-5.7% |
| Jan-Oct |
13,573 |
15,056 |
10.9% |
17,852 |
23,747 |
33% |
31,803 |
38,803 |
23.5% |
Graph information provided by RealNet Canada Inc.
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