‘It’s growth upon growth.’ Royal LePage sees house prices rising in 2022, despite cooling market

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The real estate service adjusted its annual forecast for the GTA to a 16 per cent increase, up from 11 per cent.

Just as house prices appear to be moderating, Royal LePage has revised its annual Canadian forecast upward to 15 per cent from 10.5 per cent nationally thanks to the strongest first-quarter results on record.

A 27.7 per cent increase boosted the median price of a home in the GTA to $1.27 million in the first quarter with detached houses soaring 29.7 per cent to $1.59 million. Condo prices also jumped 21.7 per cent to $764,200 in the same period. Condos may not moderate at all as people may be returning to the city for work and to enjoy the culture and attractions that are available again in the core. The price point of condos is also attractive, said Yolevski.

In other parts of the GTA Brampton, Hamilton and Milton some of the highest gains, with median prices rising 30.5 per cent, 32.4 per cent and 32.3 per cent, respectively.

 

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lmao yes we believe u

Yes we have😉

This industry propaganda article oddly omits the fact the average house price FELL in March in Canada.

This article oddly omits the fact the average house price FELL in March in Canada.

Trudeau immigration policy to blame!

'Growth upon growth'; now there is your partial answer why we are here today. Growth is worshiped as the only GOD for all. esp the elite that benefits the most. Yet, it is this very GROWTH of everything, the good, bad and ugly, that will do us in all. This is just the mild start

Why would anyone listen to what a real estate 'expert' has to say? Might as well go to a psychic or have my palm read from someone with similar qualifications

Never trust an industry that hands out certificates to people with no qualifications. Worse than used care salesman and now they economists

Wow 😳 not even a recession is lowing the prices.. Trudeau really did print a colossal amount of money 😬

*Says the company that benefits the most from price speculation.

Clip and save this. Rates have a lot further to go and prices gonna rose another 15? No , not gonna happen.

Living wages pegged to productivity, dignity at work and social mobility, or gtfo corporate parasites. Mass mobilization, general strikes and direct action ftw. Kick them in the capitalism until they beg for mercy.

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 /  🏆 60. in TH

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