Just four months ago, it has been projected Toronto house prices would likely increase by 4 per cent through 2015. Now it’s revised that to 7 per cent. it had anticipated price gains of 3 per cent in the Vancouver market by year end. Now it expects 6 per cent. This spring market has come out of the gates significantly stronger than anticipated,
The reason behind the revised projections are high consumer confidence and low inventory in the country’s two hottest markets.
The average house price was up 10 percent in GTA in March, year over year, to an average of $613,933. In Vancouver, prices were up 11 per cent in Metro Vancouver to an average of $893,335 during the same period.
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