Market Update February 2016

February 2016.

Dear Friend,

The weather in December and January was not the only thing that was unseasonably warm! The Toronto real estate market continued its hot pace with the sale of 4,672 residential transactions in January, up 8.2 % over January of 2015. The average price in January was $631,092, up 14.1% over January 2015’s average price of $552,925.

This upward trend will continue in 2016 as a recent polling conducted for TREB by Ipsos suggested that 12 % of GTA households were seriously considering the purchase of a home in 2016. Buying intentions are strong despite rising prices of homes. With low interest rates, home ownership continues to be seen as an affordable long-term investment.

Here are some reasons why Canada is so popular an investment opportunity for so many foreign investors.

See World's most expensive cities

I know the above are “averages”. Prices are dependent on location, condition etc. However this gives you a general idea why so many foreign investors are purchasing in Canada. We are a BARGAIN!

 If you or a friend are considering purchasing an investment property, (yes, 2016 is a great time) please give me a call, there are some great opportunities in Toronto!

Have a great February,

Your Friend in Real Estate.