Since there has been a lot of attention on new home remaining inventory, I thought I’d add some data and perspective to the conversation.
First, total new home remaining inventory in the GTA since 2000 looks like this:
The current inventory is 25,930 units and spread over 425 high rise projects and 274 low rise projects. We define a high rise project as those containing apartment, loft, or stacked townhouse product types and low rise projects as those containing detached, semi-detached, link or row townhouse product types.
Now we can split the total new home remaining inventory by project type:
High rise projects have a current remaining inventory of 20,133 units and low rise projects have 5,797 units available at June 30, 2012. This is quite a reversal from 10 to 13 years ago.
Now let’s look closer at the high rise remaining inventory. Breaking it down by construction status we see the available units split among pre-construction projects, projects under construction, and those projects already built.
So as of June 30, 2012 there were 12,435 units available in 146 pre-construction projects, 6,701 units available in 188 projects currently under construction and 997 units available in new, recently completed projects.
I’ll post some additional information on the number of projects at each stage of construction next week so sign up in the right hand margin if you want to be automatically notified of new posts.