A survey of prices over the past 43 years shows how much has changed. Housing prices have risen by an average of 3 per cent every year during those 43 years. But year to year, there could be a lot of variability.
The average price in 2014 for a house in the GTA was $566,696.But as immigrants continue to flock to Toronto and Vancouver and millennials enter their prime home buying years, demand for housing will remain strong.
The Greater Toronto Area is expected to see the strongest pickup in sales nationally, particularly for single-family homes worth more than $1 million. Purchases of all types of luxury homes have already started this year on a high note, jumping 38 percent from the same time last year to 997 units. The GTA sold 7,527 luxury homes in all of 2014. Low lending rates, along with a strong economic outlook for Ontario, improving consumer confidence and a shortage of inventory for the increase.
Century21 Active REALTY INC Brokerage.,4181 Sladeview Cres, Unit 33
Mississauga, Ontario L5L 5R2
Direct: 647 200 2200Off: 905-997-7653 Ext 200
Fax: 905 -997-7654