Concord condos for sale toronto. The Canadian real estate market picked up in April. The Canadian property market rebounded in April and construction of the 235460 annual unit began last month, the highest level in 10 months and up 23% from 191981 units in March.
The growth is driven by new multi-unit buildings in the Toronto and Vancouver areas. Bank of Canada spokesman Stephen Poloz said he is confident that real estate will pick up and grow again later this year, according to Bloomberg.
Last year, the real estate market in Toronto and Vancouver cooled as officials tightened the mortgage system and levied taxes on overseas buyers to control house prices. But in April, the level of new homes was much higher than the recent average.
In terms of prices, the prices of Bowen and town houses are still rising, but the rate of increase has slowed compared with last year. The average price of Bowen in Greater Toronto rose about 5% in April from a year earlier, up from double-digit growth of more than 10% last year. From the perspective of independent houses, sales and prices of independent houses worth about 1 million yuan have begun to pick up, while the market for luxury homes is shrinking.
He expects trading volumes to continue to rise in May and June, but there will be great differences between different regions. He believes that the rise in trading volume will be mainly driven by demand from the low-end market. On the other hand, it is mainly driven by buyers who change houses, because from the current market price, the price difference between Baiwen for town houses or town houses for detached houses is smaller than in the past, and it is more affordable than in the past.
As for the increase in newly listed houses, it shows that after more than two years of market adjustment, sellers have gradually begun to digest the changes in the market and begin to change their mentality. in the past, they may not be willing to sell because they feel that the psychological gap is too large. now it is easier to accept the current situation of the market. Overall, he believes that the current market is still a buyer’s market, and supply still exceeds demand in many areas. The current sales rise is only a restorative catch-up compared to 2018 and compared with 2017 and 2016.