All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: Bully bidders drive spring housing market, the suburbs sees intense battles being waged and fears grow over 'frothy' market.
Elsewhere: Keeping an eye on foreign investment in the Canadian housing market, the eviction economy in the United States and controversial comments on immigration in Great Britain.
Bully bidders still running Toronto’s spring housing market (The Globe and Mail)
Contestants in Toronto’s spring housing market continue to fight by lobbing whopping amounts above the asking price at sellers and fending off rivals with aggressive bully bids.
Toronto’s sizzling market may get all the attention, with the average price of a detached house topping $1.2-million last month. But it’s in the suburbs where the most intense housing battles are being waged.
“While housing continues to surpass our expectations over and over again, conditions in Toronto and Vancouver continue to look increasingly frothy,” TD economist Diana Petramala said in a note to clients.