Toronto housing continues slowdown with August price drop

The GTA housing market has gotten off to a frosty start in 2018, with housing prices and sales falling in the first two months of the year. But as the market continues to cool, some toronto neighbourhoods stand to lose more value than others, according to one expert.

But that didn’t stop him from calling Toronto the least healthy housing market in the country when prices were galloping ahead in. In Ontario, the slowdown will continue for a while, says Lu Han at.

 · Housing starts fell to a seasonally adjusted annualized rate of 220,215 units in September. That was down from 225,328 units in August but still well above forecasts for a drop.

The Toronto new condo market has been one of the few good-news stories for the Canadian housing market in an otherwise rocky 2018. But its low-rise counterpart hasn’t fared nearly as well. The average price of a new Toronto home dropped 1.5 percent year-over-year in October, according to Statistics Canada’s (StatsCan) New Housing Price Index.

Housing prices in Toronto continued their summer slump in August as government regulations and fears about a market softening curbed demand in Canada’s biggest city. The average price for all housing types declined 1.9% last month from July to C$732,292 ($591,225), according to the Toronto Real Estate Board.

Toronto’s Housing Market Continues to Heat Up. treb believes that the best way to moderate house price growth in Toronto would be for policymakers to tackle the supply side rather than demand.

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Surging prices for new homes suggest tight low-end supply David Madani, senior canada economist for Capital Economics, suggests blaming supply constraints on surging Greater Toronto Area prices is bullish. The real estate industry regularly links high home prices in the Greater Toronto Area to a supply shortage – here, and here, and here – but the contrarian economist doesn’t buy it.

 · House prices up. but in 2012, down Home prices rose nationally 3.5% in the third quarter over the previous quarter, according to the latest home data index from Clear Capital. Data shows that since mid-spring, national rolling quarter-over-quarter prices gained 3.5% through September, compared to a 4% change reported through August.

Watch: A 200-square-foot apartment in Toronto is for rent for $1,400-plus (story continues below) There are "some deep divergences" in Canada’s housing markets. is the broad stability in prices.".

Experts say that while some factors will continue to push Canadian housing prices upward in 2018, other factors are likely to push them back down. Overall, prices aren’t expected to rise nearly as.

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