New home and condo sales in the GTA are performing above average, according to the Building Industry and Land Development Association (BILD). Based on data collected by RealNet Canada Inc., BILD’s official source for new-home market intelligence, sales of new homes and condominiums, as of Sept. 30, are up nine per cent over the 10-year average.

“This continued increase in new-home sales shows that purchasers remain confident in the market,” says Bryan Tuckey, BILD president and CEO. “With the GTA experiencing an annual growth of up to 100,000 people, it is important that the industry builds approximately 35,000 homes each year so that they have a place to live.”

As of Sept. 30, new home and condominium sales were up substantially from the same period last year, increasing by 54 per cent. High-rise sales resulted in the third-best September on record.

Pricing for new homes in the high-rise sector also grew, year-over-year, by four per cent to an average of $450,014.