Toronto House Prices Are World's Fastest-Growing!

Dear Friends:

Even though I am originally from Toronto I could never, ever, go back there to live. (Not that I'd want to anyway!)

The plain and simple truth is that I just couldn't afford to buy anything there ......., period!

Congratulations, Toronto, you’ve finally made it to number one. At least when it comes to house prices.

Canada’s largest city saw the fastest pace of house price growth of any major world city in the past year, according to research from analytics firm CoreLogic, carried out for Australia’s Daily Telegraph.

Get a load of THIS:

Toronto’s median house price jumped 19 per cent in the past year, beating second-place Sydney, Australia, and third-place Vancouver, which has seen prices slow in the past six months.

The survey measures median house prices, a slightly different measure than the average numbers typically provided by Canadian real estate boards.

Average prices have been growing even more strongly in Greater Toronto, up by 27.7 per cent in February compared to a year earlier, to $875,983.

WANNA KNOW WHAT ONE AND A HALF MILLION BUCKS CAN BUY? ($1,500,00.00)

Toronto:

Vancouver:

 

Halifax:

I would move to Halifax in a second if it wasn't for those damned winters ......., but fear not residents of Toronto and Vancouver, all the big banks and real estate companies are predicting a big market correction any day now!

P.S. Even here in the heart of S.W. Ontario (London) it ain't too shabby:

What the market is really going to do is anybody's guess since not all forecasters are predicting doom and gloom ......,  some others, are forecasting another hot year for Toronto housing. 

TD Bank chief economist Beata Caranci recently called for another 25-per-cent jump in Toronto house prices this year. (Or not!)

http://www.huffingtonpost.ca/2017/03/28/toronto-fastest-growing-house-prices_n_15662688.html