The Realtors and the Economists are discovering a return to normal in Toronto’s housing market despite a fourth consecutive month-to-month decline in median house prices. The Toronto Real Estate Board( TREB) reported that the average cost of a home in August — $732,292 (including all residence types and condos) — was still up 3 […]
foreign buyer tax
Toronto area home sales drop in May, 2017 after chilling measures
House sales fell 26 per cent in the Toronto region in May, 2017 following the Ontario government’s introduction of a foreign-buyer’s tax as many potential purchasers stepped back and waited to assess the market impact. In the 30 days after different provinces announced the immediate introduction of a 15 -per-cent foreign-buyer’s levy on April 20, 2017, […]
Even Top one per cent Earners of Toronto Are Priced Out Of Housing Market, BMO notices
Toronto’s runaway house prices could threaten the city’s economy if even the top 1 per cent of earners find themselves priced out of the market, as is now happening, the Bank of Montreal is warning. BMO Chief economist Douglas Porter crunched the numbers and found that someone earning $225,000 a year — right at […]
Surging sale of $1 million-plus Toronto homes genarating calls for new steps
Sales of single-family detached houses obtaining prices of at the least$ 1-million have almost doubled this year in 2017 in the Greater Toronto Area, as economists conjure the possibility of a real estate bubble. The GTA recorded 2,876 sale of detached properties of $ 1 million or more in January and February, 2017, compared […]