Last week, the Building Industry and Land Development Association (BILD) announced that the average price of a new detached home in the GTA surpassed $1 million for the first time ever, reaching $1,045,659, as of the end of March 2016.
The high prices didn’t stop there. The average price of a new townhome in the GTA was $672,419 and the average for a semi-detached home was $612,487. Overall, the average price for a new low-rise home in the GTA was $849,312.
According to BILD, the demand for new detached homes is too strong for supply to keep up, plus the lack of serviceable land and government intensification policies are making it increasingly difficult to give home buyers the variety of options they desire.
As of the end of March, there were only 3,036 new low-rise homes available across the GTA, and only 1,634 of them were detached. Compare those numbers to a decade ago when there were 16,757 new low-rise homes in inventory, 11,149 of which were detached.
With average prices on the rise and the GTA market not supplying enough inventory, we think it’s time you turned to Innisfil for your new detached home. At Belle Aire Shores, we have townhomes starting in the $300,000s, and 36’ detached homes starting in the low $400,000s! Even our 42’ and 50’ detached homes start much lower than the average price in the GTA, starting from the $470,000s and high $500,000s, respectively.
Phase 1 of Belle Aire Shores is your opportunity to purchase a new detached home for around half the price of the average new detached home in the GTA. The Town of Innisfil is currently in talks to build a GO Station, which would be situated at the intersection of Belle Aire Shores. As well, the Town is looking at adding a Hwy 400 on/off ramp off of 6th Line, so getting around the GTA will be a breeze.
It won’t be long before prices in Innisfil are rising at the same pace as the GTA, so this is the perfect time to invest! Our preview registrant purchase event is coming very soon. To receive exclusive information about Belle Aire Shores and an invite to the preview event, please register today.