Despite some pressure on their finances, fewer Canadians in the country’s largest real estate market are currently looking to list their homes on the market than before, according to a survey by the Toronto Regional Real Estate Board, and that could lead to higher prices despite the country’s anaemic economic growth.
Average selling price of a home in the Greater Toronto Area shot up 11.9 per cent in June compared to a year earlier, and was up 7.8 per cent compared to May 2020, according to TRREB’s monthly data. https://financialpost.com/real-estate/toronto-home-prices-soar-as-listings-remain-low-but-some-question-how-long-that-will-last
The board argues that while COVID-19 has impacted home sales and listings in the GTA, home buying intentions have remained quite stable on the back of pent-up demand for housing. The municipal, provincial and federal government should take longer term measures to ensure a vibrant and affordable real estate market. TRREBs key recommendations to policymakers include:Review residential zoning that restrict housing types to detached or semi- detached and consider opportunities for rezoning to allow mid-density housing.
Your headline writer didn't read the article
All those empty office buildings can be converted
People in Toronto call it the Brown belt.