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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com



HST - WHAT IS TAXABLE?

7 May 2019

Toronto real estate sales keep growing

According to the recent report by the Toronto Real Estate Board (TREB), housing sales in the Greater Toronto Area were up by about 17% last month, however, prices for detached houses kept falling annually.

TREB says home sales went up by 16.8% from 7,744 in April 2018 to 9,042 last month.

"Meanwhile, new listings can’t show the same growth rate as the home sales”, - noted Garry Bhaura, TREB’s president.

As the annual growth rate for new listings is well below home sales, it means the market conditions keep tightening, and the price growth raises its pace.

Nevertheless, in April, the average cost of a detached home in the GTA was down annually by 1.3% to $1,018,147. The 416 area code showed no changes with the average price still at $1,355,764. In case of the 905 area code, the prices were down by 1.7% to $914,249.


It’s obvious, that detached houses took the main hit from the new measures, including a stress test, TREB says.

The average price for a semi-detached house in the GTA was up by 2% and reached $808,796, while townhomes reported a 1.6% increase to $655,994. The largest hike by 5.1% to $588,168 was seen in the sector of condos.

The average cost of all housing types rose by 1.9% to $820,148, which, according to TREB, is the highest growth result in about a year.


 

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