June 20, 2011

This is the right way to start the week off.

The Building Industry and Land Development Association (BILD) announced today that low-rise, high-rise and total new home sales in the GTA were all up year-over-year in May 2011.

High-rise condo sales posted the most impressive figure, increasing by 50 per cent. Single, semi-detached and townhomes (ie. low-rises) rose by 24 per cent. Total new home sales were up by 37 per cent.

There were 4,289 new homes and condominium suites sold in the GTA in May.

The stats from January-May 2011 indicate a 12 per cent rise when compared to the same time period last year. A 29 per cent surge in high-rise sales was behind this big increase.

According to Stephen Dupuis, President and CEO of BILD, the factors causing these amazing sales figures include relative affordability (compared to global high-rise markets and local low-rise prices), low interest rates, and great building and suite designs in great locations.

Amazing news! Here’s a more detailed breakdown of the impressive figures for you stats fans out there:

Source: RealNet Canada Inc.

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