The gap between the average costs of newly built low-rise and high-rise homes in the GTA got wider again in January, 2017. A brand-new single-detached house now costs twice as much as a stacked townhouse or condominium: $1,026, 395 to $507,551. The single-detached cost is up 25 per cent compared to a year ago; the condo […]
toronto real estate
Lack of homes to drive Toronto prices in 2017
A lack of homes for sale ought to be able to drive Toronto’s sizzling housing market to another year of double-digit price increases, the city’s real estate board told Tuesday. The Toronto Real Estate Board said the average price for all types of housing is forecast to rise to about $825,000 — up from […]
Surging sale of $1-million-plus Toronto homes urging calls for new measures
Sales of single-family detached homes commanding prices of at the least$ 1-million have almost doubled in 2017 in the Greater Toronto Area, as economists elevate the spectre of a real estate bubble. The GTA produced 2,876 sale of detached properties of $ 1-million or more in January and February in 2017, compared with 1,548 […]
More housing are needed, just not a tax on foreign home buyers
Housing prices in Toronto went through the roof long before governments started toying with a levy on foreign property buyers. While attractive for politicians, whose first have responded to any problem is to tax it, the above issues has been decades in the making, matching a chronic absence of housing supply to ever-increasing demand, […]
Even Toronto’s Top 1 per cent Earners Are Being Priced Out Of Housing Sell, BMO Says
Taking into account the “stress test” for mortgages that the federal Liberals instituted last year, Porter estimated that a couple earning $225,000 with $100,000 for a down payment would be able to buy a residence of $987,289. The median rate of a single-family house sold in Toronto in February was $1.57 million. “It […]