Market Watch: September 2018

Source: Toronto Real Estate Board

“While higher borrowing costs and tougher mortgage qualification rules have kept sales levels off the record pace set in 2016, many households remain positive about home ownership as a quality long-term investment. As the GTA population continues to grow, the real challenge in the housing market will be supply rather than demand. TREB is especially concerned with issues affecting housing supply as we move towards municipal elections across the region.”

– Garry Bhaura, 2018/2019 TREB President

“Generally speaking, annual rates of price growth have been stronger for higher density home types in 2018, including condominium apartments, townhouses and semidetached houses. In many neighbourhoods, these home types provide more affordable home ownership options. This is why a policy focus on increasing mid-density housing options throughout the GTA is important.”

– Jason Mercer, Director, Market Analysis, TREB