GTA new home sales remained extremely low in April – Federal GST measures inadequate
There were 310 new home sales in April which was down 72 per cent from April 2024 and 89 per cent below the 10-year average, according to Altus Group*, BILD's official source for new home market intelligence. Historically, new home sales for a typical April in the GTA would be 2,750 units based on the previous 10-year average.
'April 2025 new home sales across the GTA have extended the slowest period of sales on record,' said Edward Jegg, Research Manager at Altus Group. 'Buyers crave predictability and the swirling uncertainty around the impact of possible tariffs is depriving would-be purchasers of the confidence they need to move ahead.'
Condominium apartments, including units in low, medium and high-rise buildings, accounted for 105 units sold in the GTA in April, down 80 per cent from April 2024 and 94 per cent below the 10-year average.
There were 205 single-family home sales in the GTA in April, down 66 per cent from April 2024 and 77 per cent below the 10-year average. Single-family homes include detached, linked and semi-detached houses and townhouses (excluding stacked townhouses).
New for 2025, BILD and Altus Group are now reporting on sales in Simcoe County. In April, there were 27 single-family new home sales in Simcoe County with the weighted average price at $1,120,438.
Total new home remaining inventory in the GTA decreased slightly compared to the previous month, to 21,363 units. This includes 16,555 condominium apartment units and 4,808 single-family dwellings. This represents a combined inventory level of 15 months, based on average sales for the last 12 months.
'Yesterday the Federal Government tabled its proposed measures to provide GST(HST) relief to first-time new home buyers. Unfortunately, this limitation to first-time buyers only will have a very small impact, as very few new home buyers are first time buyers. It will not substantially help address affordability, nor will it help significantly stimulate sales and construction,' said Justin Sherwood, Senior Vice President of Communications, Research, and Stakeholder Relations at BILD. 'The government has reaped billions in additional tax revenue on new homes by not indexing GST price rebate thresholds since 1991 and instead has created a new mechanism that will apply to very few purchasers. In order to have maximum impact and address the effects of GST/HST on eroding home affordability, the Federal government must broaden the scope of the GST (HST) measures to all new home purchases.'
Benchmark prices decreased in April for both single-family homes and condominium apartments in the GTA compared to the previous year. The benchmark price for new condominium apartments was $1,019,120, which was down 3.6 per cent over the last 12 months. The benchmark price for new single-family homes was $1,530,126, which was down 5.4 per cent over the last 12 months.
With more than 1,000 member companies, BILD is the voice of the home building, residential and non-residential land development and professional renovation industries in the Greater Toronto Area. The building and renovation industry provides 256,000 jobs in the region and $39.3 billion in investment value. BILD is affiliated with the Ontario and Canadian Home Builders' Associations.
-30-For additional information or to schedule an interview, contact Janis McCulloch at jmcculloch@bildgta.ca (416-617-7994)
*Altus Group should be credited as BILD's official source of new home market intelligence.
Attachment
Altus Data Solutions media backgrounder April 2025 BILD New Homes Sales
CONTACT: Janis McCulloch Building Industry and Land Development Association (BILD) 416-617-7994 jmcculloch@bildgta.ca
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
2 hours ago
- Business Insider
Construction startup Bild raises $3.1 million from Khosla to harness AI for more affordable housing
A Columbia grad who was one of Google's youngest engineers and a serial entrepreneur who built hundreds of homes starting at age 16 have their sights set on disrupting the construction industry with AI. Roop Pal and Puneet Sukhija launched construction startup Bild AI in February and on Xday announced a $3.1 million seed round led by Khosla Ventures, with participation from Mission Street Capital, Ryan Sutton-Gee, and Ooshma Garg. Bild uses AI to read blueprints and estimate the materials and costs associated with a project. This is currently a timely and error-prone process done by hand, Pal said. The company, which consists of just Pal and Sukhija, will use its seed to hire engineers aggressively in order to expand its technology, Pal told BI. The duo came up with the idea for Bild at a Hack for Social Impact event in San Francisco, and were accepted into Y Combinator within days of meeting. "I was really mostly keen on the issue of affordable housing," Pal, who also previously worked at Waymo, told BI. "There's an opportunity to apply my knowledge in computer vision and AI to really make an impact." The startup's early clients are material suppliers in the framing, flooring, and door businesses, predominantly for multifamily residences. The company makes money by charging subscription fees. By cutting down on presconstruction costs, Pal said Bild could also spell savings for renters. "If you have elastic housing markets," he said, "this cost passes through and people save on rent." Material analysis is just the first layer of Bild's vision, as it incorporates new sub-trades — such as windows and roofing — one by one. As its blueprint-reading technology becomes more sophisticated, it will ultimately be used in the permitting process, Pal said, to catch compliance issues and cut down on the costly and bureaucratic back-and-forth for residential and non-residential projects alike. "If you reduce 1% of the cost of a hospital, that's another hospital that we have budget to build," he said. "It can really make a big difference broadly." In addition to Bild, AI is also infiltrating other aspects of the construction industry, with firms like Shawmut and Suffolk relying on the technology to shore up worker safety.
Yahoo
2 hours ago
- Yahoo
Offsite Data Center Power Infrastructure Market - Trends, Opportunity and Forecasts to 2030
Key opportunities in the Offsite Data Center Power Infrastructure Market include rising demand for scalable and resilient power systems due to growing reliance on hyperscale and colocation models, enhanced by cloud, IoT, and edge network proliferation. Innovations in energy efficiency and AI-driven power management are critical focus areas. Offsite Data Center Power Infrastructure Market Dublin, July 03, 2025 (GLOBE NEWSWIRE) -- The "Offsite Data Center Power Infrastructure Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F" has been added to Offsite Data Center Power Infrastructure Market was valued at USD 13.52 Billion in 2024 and is expected to reach USD 36.49 Billion by 2030, rising at a CAGR of 17.82%. This market is witnessing accelerated growth due to increasing reliance on outsourced data center models, particularly hyperscale, colocation, and modular facilities. As businesses embrace digital transformation, the surge in data creation and processing has amplified the need for scalable and resilient infrastructure. Offsite data centers demand highly reliable power systems to ensure uninterrupted 24/7 operations, positioning power infrastructure as a critical enabler of uptime and performance. The proliferation of cloud computing, IoT, and edge networks further intensifies the requirement for efficient, intelligent, and redundant energy solutions. Key components such as UPS systems, PDUs, generators, and lithium-ion battery systems are central to operations, with innovations focused on improving energy efficiency, system intelligence, and carbon footprint reduction to support green certification initiatives and resilience amid increasing power disruptions. Key Market Drivers: Rising Adoption of Colocation and Hyperscale Data Centers The widespread adoption of cloud services and digital platforms is fueling demand for colocation and hyperscale data centers, driving substantial investment in offsite power infrastructure. Enterprises are outsourcing storage and compute functions to third-party facilities to enhance scalability and reduce infrastructure costs. Hyperscale operators like Amazon, Google, and Microsoft require power systems capable of supporting continuous operations at multi-megawatt capacities, often exceeding 20 MW per site. Over 700 hyperscale data centers are operational globally, with 300 more in the pipeline. Meanwhile, colocation centers now handle approximately 40% of global cloud workloads and maintain strict power redundancy standards, typically N+1 or greater, to ensure service availability. This growth necessitates the deployment of advanced UPS systems, high-capacity generators, and intelligent PDUs that can manage increased energy loads and real-time performance demands with maximum efficiency. Key Market Challenges: High Initial Capital Investment and Operational Costs A significant hurdle for the offsite data center power infrastructure market is the high capital outlay and ongoing operational expenses associated with deploying and maintaining reliable energy systems. Advanced UPS units, diesel generators, switchgear, and smart monitoring tools represent considerable upfront investments, especially for smaller colocation and edge facilities. Integration of energy-efficient technologies - such as modular UPS or lithium-ion batteries - further raises costs, though they offer long-term benefits. Operational expenses are also substantial, covering maintenance, generator fuel storage, component testing, and software platform licensing. Additionally, offsite data centers often operate in regions with volatile energy markets, complicating cost management. The need for skilled personnel to manage and troubleshoot these systems adds further strain on operational budgets, making cost optimization a persistent challenge for operators. Key Market Trends: Integration of AI and Machine Learning in Power Monitoring The incorporation of AI and Machine Learning into power infrastructure is transforming operations within offsite data centers. AI-driven platforms are enabling predictive maintenance, load optimization, and fault detection by analyzing data from smart sensors embedded in PDUs, UPS modules, and switchgear. These systems identify usage patterns, inefficiencies, and performance anomalies in real time, allowing for informed decisions to reduce energy waste and improve uptime. Predictive failure analytics now help detect early signs of component stress such as voltage dips or thermal irregularities, significantly cutting the risk of unplanned downtime. This trend is particularly prevalent in hyperscale and colocation environments, where energy management and system availability are mission-critical. By leveraging ML algorithms and IoT connectivity, operators can automate responses, shift loads, and fine-tune redundancy levels, reducing operational costs by up to 30% while enhancing resilience. Key Market Players: Schneider Electric SE Eaton Corporation Vertiv Holdings Co ABB Ltd. Siemens AG Legrand SA Mitsubishi Electric Corporation Huawei Technologies Co., Ltd. Cummins Inc. Caterpillar Inc Key Attributes: Report Attribute Details No. of Pages 185 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $13.52 Billion Forecasted Market Value (USD) by 2030 $36.49 Billion Compound Annual Growth Rate 17.8% Regions Covered Global Report Scope: In this report, the Global Offsite Data Center Power Infrastructure Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below: Offsite Data Center Power Infrastructure Market, By Data Center Type: Colocation Data Centers Hyperscale Data Centers Modular/Containerized Data Centers Edge Data Centers Disaster Recovery Data Centers Offsite Data Center Power Infrastructure Market, By Power Capacity: Below 500 kW 500 kW - 1 MW 1 - 5 MW Above 5 MW Offsite Data Center Power Infrastructure Market, By End-User Industry: IT & Telecom BFSI Healthcare Government & Public Sector Retail & E-commerce Others Offsite Data Center Power Infrastructure Market, By Region: North America United States Canada Mexico Europe Germany France United Kingdom Italy Spain South America Brazil Argentina Colombia Asia-Pacific China India Japan South Korea Australia Middle East & Africa Saudi Arabia UAE South Africa For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Offsite Data Center Power Infrastructure Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Business Upturn
11 hours ago
- Business Upturn
Caribbean Journal announces third annual Bahamas Travel & Sustainability Awards
Nassau, The Bahamas, July 02, 2025 (GLOBE NEWSWIRE) — Caribbean Journal , the leading publication covering Caribbean travel and tourism, has opened public voting for the third annual Bahamas Travel & Sustainability Awards, developed to spotlight those driving positive, forward-looking change across The Bahamas' tourism sector. Supported by the Bahamas Ministry of Tourism, Investments & Aviation (BMOTIA), the awards continue to honour Bahamian achievements through a regional lens. Now in its third year, the awards honour individuals, businesses and experiences that exemplify innovation, environmental stewardship, and community impact. Voting is open from 2 July through 2 September via an online ballot hosted by Caribbean Journal , with one entry permitted per email address. Winners will be announced during an official ceremony in Nassau this September. 'Sustainability is at the core of our tourism product, and we are proud to honour those setting new standards for environmental stewardship in The Bahamas,' said Deputy Prime Minister and Minister of Tourism, Investments & Aviation, The Hon. I. Chester Cooper. 'These awards are more than just recognition—they reflect our national commitment to building a resilient and responsible tourism sector.' Spanning 24 categories, the awards highlight the best in Bahamian travel and tourism, including Destination of the Year, Best Boutique Hotel, Best All-Inclusive Resort, Best Chef, Best Cocktail, Sustainable Destination of the Year, and many others. Finalists were selected by Caribbean Journal 's editorial team, with winners determined by popular vote. 'CJ has chronicled The Bahamas' evolution for more than a decade,' said Alexander Britell, Editor and Publisher of Caribbean Journal . 'Partnering on these awards allows us to showcase the destination and the changemakers shaping its future—while engaging our global audience in celebrating the best of Bahamian tourism.' Latia Duncombe, Director General, BMOTIA, added, 'These awards provide a valuable platform to spotlight the individuals and organisations advancing sustainable tourism across The Bahamas,' said Latia Duncombe, Director General, BMOTIA. 'We're grateful to Caribbean Journal for creating this opportunity to celebrate authentic leadership, local excellence, and the evolving spirit of Bahamian hospitality.' Anchored in the principles of the United Nations Sustainable Development Goals, The Bahamas continues to invest in a tourism model that safeguards biodiversity, protects coastal and marine ecosystems, and fosters inclusive growth across communities. The awards reflect this broader shift—celebrating not only excellence, but leadership in sustainability and innovation. To cast your vote in the 2025 Bahamas Travel & Sustainability Awards, visit About The Bahamas The Bahamas has over 700 islands and cays, including 16 unique island destinations. Located only 50 miles off the coast of Florida, it offers a quick and easy way for international travellers to escape their everyday. The island nation also boasts world-class fishing, diving, boating and thousands of miles of the Earth's most spectacular beaches for families, couples and adventurers to explore. See why It's Better in The Bahamas at or on Facebook, YouTube or Instagram. About Caribbean Journal Founded in 2011, Caribbean Journal is the leading publication covering Caribbean travel and tourism, reaching millions of readers with daily news, destination features and insight on regional hospitality trends. Attachment Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
