Langstaff Gateway Condos toronto.Home prices continue to rise. New home prices rose 0.7% month-on-month in August 2021, continuing the rise since May last year.Please Visit: Langstaff Gateway Condos toronto to Get Your VVIP Registration Today!
New home prices rose in 13 of the 27 metropolitan areas across the country that were surveyed.
Among them, the price of new homes in London, Ontario ranked first with an increase of 3.9%. There have been signs of supply shortages in the local housing market since 2017. The epidemic of COVID-19 has aggravated the situation. New home prices in Ottawa, the capital, rose 2.9% month-on-month. Montreal, Toronto and Vancouver rose 1.3%, 0.8% and 0.5%, respectively.
But new home prices in Edmonton and Saskatoon fell slightly from the previous month. House prices are flat in the other 12 regions.
Although the month-on-month increase in house prices has slowed in recent months, new home prices nationwide rose 12.2% in August compared with the same period a year earlier. Ontario takes the lead in many places. Of these, Ottawa was the highest, with a year-on-year increase of 27.5%. The Kitchener-Cambridge-Waterloo area rose 26.9 per cent, while Windsor rose 22.7 per cent.
The eastern province of New Brunswick recorded a net population growth of 2368 in the first quarter of this year, nearly 51 per cent of which came from other parts of the country. This is the largest inter-provincial migration growth in the province since 1983. The Bureau of Statistics said this could put more upward pressure on house prices in the province.
Under increasing pressure on housing costs, British Columbia (British Columbia) introduced new measures to control house prices in Canada’s most expensive market on February 16, 2016, including tracking the nationality of buyers.
The measure also includes a new higher asset transfer tax on luxury homes, according to Reuters quoted by the South China Morning Post on Feb. 18. The measures come at a time when Beijing is stepping up its efforts to stem rising capital outflows.
Although Canada has not officially started tracking foreign buyers, Vancouver residents have been pointing the finger at Asian investors pushing up property prices, initially from Hong Kong and Taiwan and more recently from mainland China.
The average price of detached homes reached C $1.8 million in January, up from C $1.3 million a year ago, culminating in local frustration, with some angry protesters gathered on the lawn of houses to be demolished, from the technology company CEO to the mayor of Vancouver, calling for measures to ease speculation.