Welcome to Sutton Systems Sign in | Help

Toronto Real Estate Blog - GTA News

Real Estate Updates on Market Trends, House Prices, Homes for Sale in the GTA, Mississauga, Toronto, Brampton, Oakville and Burlington. Sutton Realty Blog, Sutton Mortgage, Contact Sutton 416-896-3333, 905-896-3333 Canada Toll Free 1-800-265-1361


  • Toronto & GTA Real Estate Market Trends, House Prices, Homes for Sale, Sutton Realty Blog, Sutton Mortgage


Don’t wait too long to get into GTA condo market

Bloomberg file photo

If you’re waiting on the sidelines until GTA condo prices cool off, you may be sitting for a long time.

Genworth capital released their Summer Metropolitan Condo Outlook report that forecasts Toronto condo prices will increase by 2.5% in 2013, with an average price of $312,352. The report cites rising single-home prices (that are driving first-time buyers into the condo market), the first wave of retiring baby boomers (who are making the move into urban condo markets), continued population growth and generational low interest rates.

Together, these factors are keeping competition for housing strong. Mark Carney, governor of the Bank of Canada, left the key lending rate at 1% last Wednesday — a level that hasn’t changed in two years. Despite language to the contrary, it’s unlikely the central bank will raise rates until well into 2013.



Posted: Friday, September 14, 2012 10:42 AM by Sutton Realty


No Comments

Anonymous comments are disabled