13 July 2018

June’s growth was the third-smallest increase for this month in 14 years, says Teranet.

Previously hot housing market has cooled down amid tighter mortgage rules, a foreign buyers tax, and four rate hikes by the central bank since last July. At the same time, condo markets in Toronto and Vancouver are still extremely active.

On Wednesday, the Bank of Canada noted that real estate markets had started stabilizing following a weak beginning of the year.

According to the report, the condo market showed the largest price growth in Toronto and Vancouver, as many buyers had to switch to it from expensive sector of single-family houses.