8 elm condos.The latest housing valuation in the Greater Toronto area of Canada has been announced. The Ontario Municipal Housing valuation Bureau today released real estate valuations conducted by Ontario every four years, showing the red-hot real estate market in the Greater Toronto area.Please Visit: 8 elm condos to Get Your VVIP Registration Today!
Compared with four years ago, housing valuations in some cities in most areas have increased by nearly 50%. Across Ontario, home valuations have risen by an average of 18 per cent, with an average annual increase of 4.5 per cent over the past four years.
The total number of houses and apartments subject to revaluation is more than 5 million, based on the price that can be sold in January.
Home valuations in Ontario have continued to rise, but prices have skyrocketed in some cities in most areas since 2012. Home valuations in Richmond Hill have increased the most, rising 47 per cent from four years ago, with an average annual growth rate of 12 per cent. Markham also grew by 44%, outpacing the average rise in the greater Toronto area.
The average home valuation in the greater Toronto area increased by 30%, mainly due to the price and shortage of detached houses. House prices in the Greater Toronto area have risen by an average of 19% over the past year due to a shortage of detached houses. As house prices soar in Toronto, more and more people are moving to the surrounding cities in most areas, resulting in a sharp rise in housing valuations in the surrounding cities.
But at the same time, the rise in apartments is not so obvious. The average valuation of independent houses in Toronto rose 36 per cent to C $770000, while the value of apartments increased by 12 per cent to C $363000. Valuations of detached houses in Scarborough rose 44 per cent to C $625000, while apartments rose 20 per cent to C $270000.
The increase in areas outside Greater Toronto was slightly smaller. The average valuation of independent houses in Windsor increased by 13 per cent, while the cities of London and Ottawa increased by 8 per cent. But in northwestern Ontario, home valuations in cities including Thunder Bay and Kirkland Lake have risen by 20 per cent.