GTA new home sales rose 60 per cent in August, compared to the same period in 2013, reports the Building Industry and Land Development Association (BILD). The increase, which was seen in both the low-rise and high-rise sectors, was recorded by RealNet Canada, BILD’s official source for new-home market intelligence.

“With a limited amount of new project launches in August, these sales are a result of consumers’ continued confidence in the market,” says Bryan Tuckey, president and CEO of BILD. “This affects levels of remaining inventory, which have been declining recently, particularly in the low-rise sector.”

Average prices were also up from the year prior, according to the RealNet New Home Price Index. The average prices for the low-rise segment increased five per cent, to a record high of $688,923, while average prices for the high-rise segment increased two per cent, to $446,710.