The take aways are that prices are a up 3% from 2016 in the GTA. Sales are down 30%, however, buyer confidence is still strong. Many still want to purchase in the next 12 months.
BOC raised benchmark rate to 1% and banks have followed suit increasing their 5 yr fixed rates as well.
Rental rates in the downtown core are rising alongside Condo prices..this is creating a good opportunity for investors looking to buy a condo investment and benefit from high rent.
The next few things to pay attention to would be to see if values beginning to increase in Sept and to see if there’s a new stress test implemented for insured mortgages in the coming months. We will keep you posted as usual!!
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Toronto Real Estate Sales Statistics – LIVE VIDEO – August 2017 #buy #RealEstate in #Canada