Photo Credit: Definitiveale
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Housing prices are only going to go up, it's a waiting game for singles buying condos and the price gap between condos and houses continues to soar.
Elsewhere: A mortgage broker in Canada was booted for offering low rates, why millennials are moving in the United States and gloom for Asia's housing market.
Toronto’s record house prices to rise further by 2017 (Toronto Star)
Toronto’s record house prices could soar a further 17 per cent by the end of 2017 as the lack of supply in the face of unrelenting demand continues to drive prices far beyond the rate of inflation, says the chief economist of Central 1 credit union.
It’s a waiting game for single condo buyers (The Globe and Mail)
Location is tantamount for her. As the executive director of Canada Basketball, the sport’s national governing body, she works in an out-of-way office in Toronto’s Etobicoke suburb. Her commute by car is enough driving for the week. When she’s home, she wants everything from markets to coffee shops and parks in close walking distance. She wants the condo lifestyle.
In a sign of things to come as Toronto’s spring housing market heats up, the gap between the price of a new house and a new condo skyrocketed to nearly $300,000 in February.
The development will also house a new RBC location, possible educational facilities from OCAD and George Brown, and the new Daniels Corporation offices. Phase one is projected to be complete in spring 2018.