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URBANATION

2009 TORONTO CONDOMINIUM MARKET'S WILD RIDE ENDED ON RECORD "UP-NOTE"

In Q4-2009, moderately priced new projects, and limited resale supply drove record-shattering demand for new and resale condominiums across the Toronto Census Metropolitan Area (CMA)

TORONTO, January 29, 2010.

Urbanation, Inc., the leading source of information and analysis on the Toronto condominium apartment market, today released its Q4-2009 market overview.

New Q4-2009 condominium sales in the CMA numbered 6,295, a 36 per cent increase over Q3-2009's 4,617 new unit sales, completing the rebound from the meager 917 new units sold across the CMA in Q1-2009.

The 14,792 new condominium sales in 2009, improved on 2008's total of 14,469 by 2 per cent. The Q4 sales total pushed sales over 144,000 for the decade, a 278 per cent increase over the 38,000 new condominium sales in the 1990s.

"The Q4-2009 sales were a record for the fourth quarter in the CMA, and the third highest quarterly total on record. These results were truly unexpected, quite a turnaround from the poor first half of 2009, and quite a cap to a booming decade of condominium activity," said Urbanation Editor and Executive Vice-President, Ben Myers.

"Much of the credit goes to the savvy developers that launched new projects with relatively moderate pricing, keeping suites affordable for first-time buyers."

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