26 November 2019

The Niagara Region with a 13% prices increase from 2018 to 2019 will probably keep attracting buyers from Toronto area with a possible gain by 7% in 2020.

Re/Max expects a 5% rise for Oakville, Mississauga and Brampton, and a 3% increase for Durham Region.

“There are a people who would like to have an access to urban style amenities, that’s why they are looking through various parts of the province searching for what Toronto provides. However, still more people move to Toronto than leave it”, – says Alexander.

According to a Leger poll, 2 in 10 Canadians felt a hit to their ability to purchase a property in 2019 because of the mortgage stress. As you know, the test demands from home buyers to qualify at a rate 2% higher than the contract one.

Of course, there’s always certain period of adjustment to new measures, noted Alexander. As a rule, it takes about 3-5 months. “However, the impact of the stress test was so strong, it took more time. Lower interest rates were a helping factor”, – he added.

The online Leger poll of 2,003 Canadians was conducted in February. It’s considered to be accurate within 2.2%.