Canada: Toronto home prices go up
Toronto, Sept 6 (IBNS): The average resale home prices went up 4.7% year over year to $765,270 in Toronto, media reports said.
The price is higher by $34,000 than the average a year ago.
The number of detached-house sales increased 19.2% in 900 odd areas outside Toronto. Now the figure is $907,780.
The average Toronto-area resale price rose 6.4% to $541,106.
The number of sales, however, increased 0.7% over year in August.
Toronto Real Estate Board (TRSB) president Garry Bhaura has been quoted by Toronto Star as saying, "Many home buyers, who had initially moved to the sidelines due to the Ontario Fair Housing Plan and new mortgage lending guidelines, have renewed their search for a home and are getting deals done much more so than last year."
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