TORONTO -- The frenzied pace of home sales that appeared at the start of the year is continuing to slow as new figures from the Toronto Real Estate Board show 13 per cent fewer homes in the region
Small towns join the real estate big leagues as pandemic turns tables on price growth
Dated: May 27 2021
The rapid rise in housing prices during the pandemic has surprised homebuyers and sellers alike. A related development was that the price appreciation has been uneven, with gains in small towns being more pronounced than those in the urban core.
Data from the Canadian Real Estate Association (CREA) revealed that benchmark housing prices, controlled for size and quality, increased by 17 per cent in the Greater Toronto Area (GTA) year over year. In comparison, neighbouring smaller towns experienced much higher price appreciation rates. In Kitchener-Waterloo, located some 100 kilometres west of downtown Toronto, home prices grew by 40.3 per cent, more than twice the rate for the GTA.
The sparsely-populated satellite communities in the GTA periphery, especially in cottage country, have reported similar accelerations in house prices, with year-over-year prices up by 48.4, 48, and 42.8 per cent in Kawartha Lakes, Bancroft and Brantford, respectively.
Robert started in Real Estate over 20 years ago as a Real Estate Investor, building a portfolio of real estate. His passion for real estate and his experience as a licensed mortgage agent has helped h....
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The rapid rise in housing prices during the pandemic has surprised homebuyers and sellers alike. A related development was that the price appreciation has been uneven, with gains in small towns
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