Toronto housing continues slowdown with August price drop

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.

The modest price gains seen in Toronto and Vancouver in August are a "sign of. The average selling price for all housing types in Greater Toronto sat at $765,270 in August, up 4.7 per cent in a.

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The Toronto and Vancouver housing markets are on the brink of a ‘severe downturn’ that could hurt the country’s GDP and drag home prices down by up to 40 per cent, a Capital Economics economist says.

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ARTICLE CONTINUES BELOW Toronto continues to be the tightest real estate market in the country but it’s still too soon to say that Premier Kathleen Wynne’s April 20 fair housing plan has. to the.

A new report suggests a foreign buyer tax alone can’t solve Toronto’s soaring housing prices. a drop in real estate transactions in the Vancouver area after the provincial government brought in a.

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A sharp drop in the number of luxury sales in the Greater Toronto Area pulled down housing prices nationally last month as the country’s largest real estate market cools off and braces for higher.

The spinoff effects of a real estate slowdown, such as reduced spending on furniture and appliances, will amplify the impact. The number of resale homes sold in Canada fell 14 per cent in the first half of 2018 over 2017, with sales dropping 25.5 per cent in Greater Vancouver and 27 per cent in the Greater Toronto Area over the six-month period.

The average price of a home sold in Toronto has fallen by more than 14 per cent over the past year, to $784,558 last month compared with $915,126 in March last year. The board says the drop in the.

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site price up 6.9% from a year ago, the slowest pace of increase since October 2015. Rather than reflecting more balanced demand-supply conditions across markets, the slowing was once again concentrated in the Toronto area. Prices in Toronto were up just 3.2% from a year ago, well off the peak increase of more than 30% last April.