28 September 2018

In addition to it, home prices have also been growing over the past several months. In the second quarter of 2017, detached home prices in the GTA neighbourhoods went up by 75% from the previous quarter.

Prices rose by 17% quarter-over-quarter from $1,601,327 to $1,872,407 with Palmerston-Little Italy, Trinity-Bellwoods and Niagara leading the way. Properties in the downtown were sold during 8 days or faster.

“Even after all the government intervention, the demand at the housing market was still strong enough to keep the prices growing”, – says Alexander.

Following the new stress test implemented in January, some potential buyers decided to take time and see if they really want to enter the market again.

“Before the new rules introduction people were ready to buy, but they still had to be more careful and wait for the situation to resolve”, – he adds.

“I believe the trend will keep on going”, – Alexander noted.