Canada’s largest city appears to be bouncing back from its real estate lul.
According to a report from the Toronto Real Estate Board, the city’s housing market saw its largest price jump since 2017, as supply continued to drop.
Overall the benchmark price, rose 5.8 percent from a year ago to $810,900, while sales rose by 14 percent.
New listings a key variable behind price, dropped nearly 10%.
The drop in overall available supply is also pushing up rental rates, with the average rent for a one-bedroom apartment also rising 5.8 percent.
With prices rising across the board, it appears investors have begun to price in and adjust to higher taxes alongside tighter regulations.
Powered by StructureCMS™ Comments
Join and support independent free thinkers!
We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.
Remind me next month
To find out what personal data we collect and how we use it, please visit our Privacy Policy
Comments