House prices rise in november but also increase in late June, according to an analysis of the monthly price changes that the Ontario government has released today
House prices rise in november but also increase in late June, according to an analysis of the monthly price changes that the Ontario government has released today.
At 5 pm ET today the average price of a home will climb 13.5 per cent from July to September, to $523,099, according to Statistics Canada’s Price Listing Statistics. It will climb another 3.4 per cent for October, while it will climb only 1.1 per cent for November.
A 10-year, fixed mortgage rates of 4.5 per cent is currently the new norm for house buyers in Ontario.
The price increases for 더킹카지노houses fall in the wake of three consecutive months of lower residential construction in the province, wh더킹카지노ich has not generated more than one-third of the provin우리카지노cial jobs projected under Ontario’s first-in-the-nation single-payer healthcare system.
But the latest figures, which comes as the province continues to negotiate the terms of its new medicare-to-universal health care agreement, suggest housing isn’t the only driver of prices in the province.
That trend is also reflected in the monthly price increases reported on the Canada Mortgage and Housing Corporation (CMHC) housing services websites.
According to CMHC, the average price of a residential property in Ontario over the past month climbed 6.9 per cent in June to a new record high of $944,100. That was the highest price increase of the month in six months.
By comparison, the average price of a home in Toronto this month rose 2.4 per cent to $1.6 million.
But it’s the lowest growth rate in 10 months. That would be in part a reflection of construction on the Toronto and Stoney Creek neighbourhoods south of downtown Toronto, where builders are busy making their first major-phase of a new light rail line, though a recent federal review found serious gaps between the demand and supply in the two parts of Toronto.
The Ontario housing market appears to be slowing down. CMHC projects total home sales in Ontario will fall 1.2 per cent in the next 12 months, as construction has slowed and investors continue to look outside Ontario. But the number of homes under contract is projected to grow to 12.9 million by 2018 from just above 9.5 million by 2022. CMHC projects total house sales in all regions of the province will rise 3.2 per cent in the first quarter of 2018. The growth rate of those regions is roughly equal to the growth rate of the GTA by tha