30 July 2019

Barrie & Kingston also show balanced market conditions. All other municipalities are in a seller’s zone. The real estate prices are growing in all areas with the western parts of the province reporting strong growth.

Although the stress test keeps limiting access to home ownership, its influence is reported in the rental market as well. In the second quarter, the number of lease transactions rose by 12% and reached the record high 8,814 units. The average rents in the GTA were up by 5.4% annually to $2,421.00.

 Due to the recent drop in Bank of Canada mortgage qualifying rate we expect upward trend to continue with solid price appreciation in most GTA’s housing markets.