Photo Credit: CBC
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Real estate in the city keeps rocketing, a divide of north versus south and is it time to eliminate the city's planning department?
Elsewhere: The average house price in Canada rises almost 6%, a lack of housing affordability in the U.S is the democrats biggest failure and Switzerland moves to protect itself from Russia's collapse.
“You saw a lot of people who were jumping into the market to get ahead of the land transfer tax. The second land transfer tax in the city of Toronto,” Jason Mercer, the director of market analysis at the Toronto Real Estate Board said in an interview Tuesday. “So that prompted a lot of household to pull forward their buying decision so we saw a real spike in sales In the second half of that year.”
Toronto's real divide a struggle of north versus south (Toronto Star)
You can notice a few things about all the places that come up in these conversations: they’re all pretty great, first of all; they’re all in neighbourhoods where a detached home would cost approximately a bajillion years of savings for the average family; and most of them are south of Bloor or Danforth.