Government policies are distorting New Home and Condo market

Ian Mehisto

January 23, 2013
at 6:50 pm

Building Industry and Land Development Association (BILD) says government policies in land constraints, regulations and development approval processes are negatively impacting the availability of new homes to real estate consumers. As a result, the price gap between new homes and condos has grown to $196,844, which is more than double the long-term average and limiting choice and affordability for new home consumers.

The new home index price rose 16% over 2012 to $632,868, fueled by real estate consumers hunting an ever-shrinking supply, according to BILD‘s report. In contrast, new condo index price rose only 0.4% to $436,024 over 2012.

For more information about this article, please visit The Globe and Mail.

BILD, Building Industry and Land Development Association, Greater Toronto Area, GTA, New Condos, New Home Affordability, New Homes, Pre-Construction

Ian Mehisto

As an award winning REALTOR, Ian brings a passion for the industry that enables him to provide his clients with an exceptional level of client care from start to close in every transaction. His straightforward, honest approach, professionalism and knowledge of the marketplace are a true asset to your real estate transaction.