Record Level Of Condo Starts In Toronto 2012
Toronto developers
commence building 24,388 units in 104 projects
TORONTO – January 31,
2013: Urbanation Inc., the leading source of
information and analysis on the Toronto condominium market since 1981, today
released its Q4-2012 market overview.
In the Toronto Census
Metropolitan Area (CMA) there were 3,841 new condominium apartment sales in
Q4-2012, an increase of 16% over the third quarter. Overall, 17,997 new units
sold in 2012, between the five-year CMA average of 20,119 annual sales (2007 to
2011) and the ten-year average of 17,139 annual sales (2002 to 2011), but down
from the record breaking pace set in 2011.
The Toronto CMA condominium market set several records in 2012 including: construction starts (24,388), active developments (355), total active units (89,251), and total units under construction (56,866).
The average sold index price
in the Toronto CMA was $536 psf in Q4-2012 (up 5.2% annually), while unsold
suites were being offered at $568 psf on average in the fourth
quarter.
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