The average home price was $1,082,496, three per cent lower than in July and a 0.3 per cent increase from last August.
“Looking forward, we know there will be solid demand for housing _ both ownership and rental — in the Greater Toronto Area and broader Greater Golden Horseshoe. Record immigration levels alone will assure this,” Paul Baron, the board’s president, said in a press release.
“More balanced market conditions this summer compared to the tighter spring market resulted in selling prices hovering at last year’s levels and dipping slightly compared to July,” said Mercer.Article content Over the same time period, the average townhouse price moved up by just shy of four per cent to $935,800, while average condo apartment prices slid by about one per cent to $705,572.
“But even in the direst of economic scenarios, we don’t see affordability returning to Canada’s largest city any time soon,” they said in a report released Tuesday.The first, a severe recession mirroring the one seen in the 1990s, would drive average Toronto home values $185,000 or 16 per cent below current levels by the end of next year, they predicted. By 2025, prices would fall $340,000 or 30 per cent lower than in July 2023, under their modelling.
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.
Toronto housing market cools in August amid rising borrowing costs: TRREBHome sales decline, average selling price remains flat
Read more »
Toronto housing market cools in August amid rising borrowing costs: TRREBHome sales in the Toronto area declined on a year\u002Dover\u002Dyear basis in August while the average selling price remained flat. Read more.
Read more »
Toronto housing market cools in August amid rising borrowing costs: TRREBHome sales in the Toronto area declined on a year\u002Dover\u002Dyear basis in August while the average selling price remained flat. Read more.
Read more »
Toronto home sales little changed from July to August — but expect volatility: boardTORONTO — The Greater Toronto Area housing market saw home sales and prices barely shift between July and August, but the leader of the region's housing board is expecting more volatility on the way.
Read more »
Toronto home sales little changed from July to August but expect volatility: boardThe GTA housing market saw home sales and prices barely shift between July and August, but the leader of the region's housing board is expecting more volatility on the way.
Read more »
Toronto home sales little changed from July to August but expect volatility: boardThe Greater Toronto Area housing market saw home sales and prices barely shift between July and August, but the leader of the region's housing board is expecting more volatility on the way.
Read more »