Starting this thread for sharing info and experiences to buy new home in Toronto
- Home prices went high till the 15% tax was slapped ( on foreign buyers) by the Ontario Govt. along with several other measures
- Average home price declined to 793000 in two months from 920xxx and record 37% drop in sale transactions, a record low in almost a decade
- Record number of new homes listings making inventory high , to push prices further low
- Wednesday 19 July, Bank of Canada will raise key interest rate, first time after couple of years
- Decline of foreign buyers activity after 15% tax
- Further current and historical statistics can be monitored at http://www.trebhome.com (toronto real estate board), releasing monthly reports containing total transactions with price details for each and every area
- It is expected price will continue to go down for coming months due to high inventory and sluggish activities by both local and foreign buyers and increase in bank interest rates
- Home prices went high till the 15% tax was slapped ( on foreign buyers) by the Ontario Govt. along with several other measures
- Average home price declined to 793000 in two months from 920xxx and record 37% drop in sale transactions, a record low in almost a decade
- Record number of new homes listings making inventory high , to push prices further low
- Wednesday 19 July, Bank of Canada will raise key interest rate, first time after couple of years
- Decline of foreign buyers activity after 15% tax
- Further current and historical statistics can be monitored at http://www.trebhome.com (toronto real estate board), releasing monthly reports containing total transactions with price details for each and every area
- It is expected price will continue to go down for coming months due to high inventory and sluggish activities by both local and foreign buyers and increase in bank interest rates