Universal city phase 3 . What is the spring property market like in Toronto? Spring has always been a quarter with more property transactions in many districts, but property prices in many districts have been “not high” in recent years.Please Visit: Universal city phase 3 to Get Your VVIP Registration Today!
According to (TREB), the Toronto real estate association, the average price of all residential properties (including apartments, town houses, semi-detached houses and detached houses) in March this year was 916567 yuan, 228556 yuan higher than the same period last year, with an annual increase of nearly 33%.
The mentality of the government, including buyers, sellers or regulators, as different stakeholders in this big era of the property market will also change, and many real estate agents believe that buyers will still compete with each other for their ideal home in many bidding wars this spring.
Some real estate agents said that buyers can expect the frenzied property bidding to continue, with many bidders bidding for each property opened, and most of the transaction prices will be higher than the offer price. “this spring will be busier than ever,” said Andrew Harrild of real estate website Condos.ca. “unless there is a significant increase in the number of listings and a sharp drop in the number of buyers, the status quo will not change.”
He does not encourage buyers to borrow too much in order to pursue prices, but he will also let customers know that they have to do whatever it takes to win the bidding war, otherwise they will only get the result of bidding repeatedly but coming back empty-handed.
Tarik Gidamy of TheRedPin, a property company, says most buyers need at least five bids to succeed in bidding for a property, but it is common to bid 20 times. He expects buyers to continue to face disappointment and frustration this season: “the mentality of consumers will not change, because spring is supposed to be a time for more sources.” I think there will be a big wrestle between supply and demand, and the market atmosphere will become more tense. “
Desmond Brown, a (The Beaches) broker in the lake area of Royal LePage, said that if buyers plan to wait and see how regulators deal with the overheated market and suspend their bids for a month, it will not affect their ability to buy, but it is another matter if they postpone their purchase plans by a year. He recently advised guests from Australia who want to rent a house to enter the market, saying that if they wait another year, they will never be able to “get on the bus”.
