A lack of homes for sale should be able to drive Toronto’s sizzling housing market to another time of double-digit price increases, the city’s Toronto 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 $730,472 […]
toronto real estate
Surging sale of $1 million-plus Toronto homes producing calls for new measures
Sales of single-family detached homes obtaining prices of at the least$ 1-million have almost doubled in 2017 in the Greater Toronto Area, as economists raise 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 with 1,548 in […]
More houses are needed, may not be a tax on foreign property buyers
Housing prices in Toronto went through the roof long before governments started toying with a tax on foreign dwelling buyers. While attractive for politicians, whose first response to any problem is to tax it, this issue has been decades in the making, matching a chronic absence of housing supplying to ever-increasing demand, driving prices […]
Even Toronto’s Top 1 per cent Earners Are Priced Out Of Housing Market, BMO notes
Toronto’s runaway house prices could threaten the city’s economy if even the wealthiest 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 […]
Don Mills home sold for $1.15 million over the listing price in 2017
Fifty years ago, a young couple paid $27,000 for a modest home in Don Mills. That approximately 1,500 square-foot house sold for $2.3 million, more than $1.15 million over the nearly $1.19 million list price on Wednesday. The home on Norden Cres. near Lawrence Ave. East and Don Mills Rd., received 31 offers following […]
