Twenty of 30 real estate markets in the GTA saw house prices go up by more than half – between 50 to 75 per cent – of the median income in each.
30 real estate markets across the GTA in 2022 to see how fluctuations in home prices compared to how much residents earned after taxThe report looked at home prices from the Toronto Regional Real Estate Board and looked to Statistics Canada for after-tax household incomes. The home price change was calculated by comparing 2021 to 2022 figures, the report notes.
In Toronto, home prices rose by nearly 90 per cent of the median income of residents, which is $74,000 after tax. The report notes Richmond Hill and Scugog saw an increase in house prices of more than 100 per cent of the median income, which are the only two spots in the GTA to see such steep changes.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fourth suspect arrested for deadly 2022 shooting in TorontoA fourth suspect is now charged in a deadly 2022 shooting of a 24\u002Dyear\u002Dold Toronto man.
Read more »
17-year-old charged with first-degree murder in connection with a 2022 homicide in TorontoA 17-year-old male has been charged with first-degree murder in connection with a homicide in Toronto’s Glen Park neighbourhood last year.
Read more »
Toronto home prices are expected to leap even higher than experts thought this yearThe price of a Greater Toronto Area (GTA) home is expected to surge beyond initial projections this year, according to the latest Royal LePage Hous...
Read more »
Will homes ever be affordable again in the Greater Toronto Area? - BNN BloombergRepeated reports on Toronto real estate that peg the average price of a house at around $1 million prompt a necessary question: will homes ever be affordable in the Greater Toronto Area?
Read more »
Average home price to end the year lower than 2022: CREAThe Canadian Real Estate Association expects the average price of a home to end the year 4.8 per cent lower than 2022, but says prices will rise by roughly the same amount in 2024.
Read more »
Exxon Mobil CEO’s pay rose 52% in 2022, highest among oil peersExxon Mobil on Thursday disclosed Chief Executive Darren Woods was paid $35.9-million last year
Read more »