Festival condos . The Baiwen market in many districts is still a bright spot. Both people in the real estate industry and those who own residential properties in Ontario discuss the current real estate market situation in Ontario, especially in the Greater Toronto area, from the aspects of data analysis, personal experience and so on.Please Visit: Festival condos to Get Your VVIP Registration Today!
Most of them come to the conclusion that “mourning is everywhere”. However, if we take an in-depth and detailed examination, there is still a bright spot that can give us some excitement.
Prices and sales of second-hand properties in most areas fell for the second consecutive month in June from their peak in April. The extent of the decline in the market price of independent housing is even more astonishing. The current fashion can be regarded as tenable in the weak market. Although sales have also dropped and the increase in property prices has narrowed, it is at least not as miserable as the independent housing market.
According to a June report on second-hand property transactions by (Toronto Real Estate Board), the Toronto real estate bureau, the average price of second-hand properties in most areas was 794000 yuan, up 6.3 per cent from June last year. However, the sales volume of all types of housing was only 7974, down 37.3% from June last year. At the same time, as many as 19680 buildings of all types are being put on sale, an increase of nearly 60% over June last year, indicating an endless supply of new goods on the market.
It is generally believed that the second-hand property market in most areas began to cool after the provincial government announced the hot move in the property market in April this year. But in fact, as early as early April before the provincial government announced various hot moves, the market was already filled with a strange atmosphere, and the primary and secondary positions of buyers and sellers were quietly reversed. Compared with the data for March and June, sales of second-hand properties fell 34% in three months, and the average price also fell 13.4%. The good old days when house prices rose by as much as 33% a year are gone.
Real estate website Condos.ca, earlier conducted a simple reader opinion survey on its website, and the question was: “what do you think of Toronto’s co-managed Pawain market?” It was found that 40% of the 1000 respondents said that the real estate market had ups and downs from time to time, and Toronto was no exception. Less than 1/3 responded that the Toronto condominium market is still strong and confident about the future. Others responded that the Toronto condominium Pawain market was fragile, while others said they did not care.
As a matter of fact, due to the high housing prices, first-time buyers and young families have switched to the co-managed Bowen market, which is easier to get on the bus. As a result, there is still no shortage of buyers for second-hand co-managed Bowen. Compared with low-rise houses, including detached houses, semi-detached houses and town houses, the decline in Pak Man is much more moderate.
In terms of the worst-case independent housing market, sales of second-hand independent homes in June, including 416 and 905 districts, fell 41.4 per cent compared with March, when there was no hot housing market, according to the TREB report. The average selling price also dropped by 13% from $1.214 million in March to $1.056 million in June.
On the contrary, the situation of co-management of Baiwen is more repetitive, although the sales volume of co-management of Baiwen has declined in April compared with March, but the average price has increased by 4%. However, the uptrend ends here. In the next two months, the price of Zongguan Baiwen gradually fell. The year-on-year decline in sales has further widened, and the year-on-year increase in property prices has been narrowing. But the good news is that compared with low-rise houses, the decline in co-management Pawain’s sales is the smallest, while the annual increase in property prices is the highest. In June, for example, the average price of independent housing increased by only 7.8% year-on-year, but it was not bad that the average price of independent housing still increased by 23.2%.