Riocan living . House prices and sales in Toronto fell steadily in the first two months. It may rebound in the second half of the year. To the Greater Toronto area, which is one of the locomotives of the domestic property market, several relevant property market data since the beginning of this year all show that the transaction volume in the first two months of this year has dropped sharply compared with the same period last year.Please Visit: Riocan living to Get Your VVIP Registration Today!
The Toronto Real Estate Bureau held a summit forum on the analysis of the property market in Durham yesterday, pointing out that the cooling measures of the property market in the federal and provincial capitals have indeed made many prospective home buyers prefer to wait and see rather than enter the market, but the industry believes that the impact of the policy is only temporary. It is expected that the property market will improve in the second half of this year, especially in densely populated areas.
The Toronto Real Estate Bureau held a number of economic summits on the trend of the property market in different locations in the Greater Toronto area to discuss with people in the industry the influence of various policies of the federal government and the provincial capital of Ontario on cooling the property market. The Real Estate Bureau pointed out that the country’s polling companies had conducted a survey on the trend of the property market this year, and the results showed that potential buyers had said last year that in view of the series of policies launched by the government. Their desire to buy their own homes has been reduced this year, and the whole Greater Toronto area will be affected, and (Durham Region) in Durham District will not be spared.
The Real Estate Bureau has indicated that prospective home buyers are obviously affected by the new policy of the federal government’s mortgage loan stress test and the psychological influence of Ontario’s 16 hot measures to cool the property market. The figures also show that it is indeed difficult for the property market to compare with previous years in the first quarter of this year. However, the Real Estate Bureau believes that these psychological effects are only temporary. The Real Estate Bureau analysis pointed out that in the second half of this year, when the market digested the impact of the new federal government stress testing policies, etc. The housing market is expected to rebound.
The Toronto Real Estate Bureau described that according to data analysis, although the transaction volume of buildings in the Greater Toronto area is not as active as in the same period last year, property prices have not fallen because of the temporary cooling of the property market, but tend to stabilize. The co-management of Pak Wen unit prices has even risen, making the Real Estate Bureau believe that the property market in these cities is expected to rise in the second half of the year, especially in big cities with high population density.
The Ontario provincial election will be held in June. Selinos (Tim Syrianos), Chairman of the Toronto Real Estate Bureau, pointed out that housing policies affect the lives of people from different walks of life, especially those living in the Greater Toronto area. He hoped that governments at all levels should be cautious and take into account the interests of the public when formulating property market policies, and should strike a balance between promoting employment, economic growth and government revenue.
The Real Estate Bureau pointed out that the economy driven by the property market is not only the property market itself, but also the surrounding construction industry, material transport industry, and so on, are directly affected by the property market. Last year, there were more than 90 000 transactions of buildings in the Greater Toronto area, of which 11000 were in the Durham District, bringing hundreds of millions of yuan of economic activity to the area and creating tens of thousands of job opportunities.
The Real Estate Bureau hopes that the new provincial government will take into account the continuous growth of new immigrants and population in Ontario and the strong demand for the property market, so as to formulate policies beneficial to the people, and hopes that candidates for provincial elections will consider more political platforms related to the property market.