Toronto Property Values are Up Again Year Over Year as the Toronto Market Finishes the Year off Strong!
December 2017 - 4,930 sales changed hands a decrease in sales compared with November of this year and down from the same time last year.
Average selling prices grew by 7.2% year over year. A much heftier growth than we've seen recently probably due to new incoming mortgage rules on Jan 1 2018.
Condos are now starting to increase in value by a higher percentage compared to houses. This will represent a harder time for first time home buyers and buyers priced out of houses.
The New Mortgage Lender stress Tests coming into play January 1st 2018 for buyers with 20% or more as a downpayment will definity play a role in affordability come the new year. Contact me to find out just what this might mean for you.