Canadian Real Estate News Headlines (May 30th 2019)
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I provide you with Canada’s news headlines for real estate news for today.
Toronto Condo Prices Print New All-Time High
Toronto real estate might be slower, but condo prices are still pushing higher. Toronto Real Estate Board(TREB) numbers show the price of a typical condo reached a new record high in April. Sales picked up from last year, making it the second fewest sales in the past 5 years. Meanwhile inventory increased to a 3 year high.
Canadian Housing Is The Least Affordable In The World… For Local Incomes
Canadian home prices have been growing at a breakneck speed, and incomes aren’t even close to keeping up. Organisation for Economic Co-operation and Development (OECD) numbers show Canada topped the house price to income index. Canada’s gap between house price and income growth grew so fast, it tops the list of high-income, advanced economies.
GTA leads North American list of lowest office vacancy rates
A new report indicates that the Greater Toronto Area (GTA) has the lowest office vacancy rate in North America due in large part to a surge in interest from technology companies looking for space.
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