In what may be the first signal of an emerging trend, nearly half (46 per cent) of high-rise unit sales in July were recorded in the 905 Regions of the GTA. “Toronto has consistently commanded an 80 per cent share of all high-rise sales while 80 per cent of low-rise sales have been in the suburbs. However, that balance is expected to shift as municipalities start to conform with the Greater Golden Horseshoe Growth Plan,” said BILD President and CEO Stephen Dupuis.
Highrise condos shifting out to 905 region… 46% of highrise sales in July were in the 905
August 23, 2010
Although Toronto tends to be the leader in high-rise sales, it seems that trend is now shifting!
According to the Canadian NewsWire:
That’s a CRAZY change. That’s a 34% increase in the market share of suburban high-rise condos. Wow.
In addition, the high-rise price index rose 10 per cent year-over-year since last July bringing the average price from $391,673 to $430,782. A 10 per cent return on investment in one year? Anyone would take that in this contracting economic climate!