Hunters crossing Toronto. The production price of Canadian land has gone up
Hunters crossing Toronto. The production price of Canadian land has gone up. According to the Canadian real estate association (CREA), the property market in November increased by 32.1% over the same period last year, and the average home price also rose 13.8% to 603000 yuan.
But sales fell slightly by 1.6% compared with October. Properties in Ontario resorts led the country with an increase of 25% to 30%.
The Real Estate Association pointed out that the sales volume of homes last month was slightly lower than that of October, but it still broke the transaction volume of November over the years, with more than 11000 houses changing hands. Trading volume in November increased by 32.1% over the same period last year, the same increase as in October. This is the fifth month in a row that the trading volume has exceeded that of the same period last year. Sales have fallen in about 60% of the country, especially in big cities such as Toronto, Vancouver, Mandico and Ottawa. The decline in sales in some parts of Ontario is due to a shortage of supply, not a problem of demand.
A total of 511449 houses were sold through MLS from January to November this year, an increase of 10.5 per cent over the same period last year and only 0.3 per cent below the historic high of 2016.
Propoulos, president of the Chamber of Commerce, said that many property markets across the country are very active, setting old records almost every day. Due to outbreaks in many provinces, real estate operators have also stepped up their vigilance and fully cooperated with the guidance of the government and health departments.
Robert Kavcic, chief economist of the Chamber of Commerce, said that although the real estate market was weak early this year due to the epidemic, it later became strong despite the epidemic. Although the opening volume has fallen to an all-time low, it is believed that home sales in 2020 will be a record-breaking year. The COVID-19 epidemic has not dissipated, but the vaccine brings dawn. Immigration and population growth will continue to drive demand for housing.
The decline in trading in the Greater Toronto area and Ottawa led to a 1.6 per cent cut in new listings last month. Because the trading volume has declined at the same rate as the newly listed volume, the ratio of sales to new listings has been maintained at 74.8%; the national long-term average ratio is 54.2%.
National housing inventory fell to a new low of 2.4 months from an all-time low of 2.5 months in October. Inventories in 21 property markets in Ontario fell to less than a month last month, an increase of three from the end of October.
Prices in Quinte & District, Tillsonburg District, Woodstock-Ingersoll and several resorts in Ontario have risen 25 to 30 per cent in the past year. Barry, Bancroft and surrounding areas, Bingford, Huron Perth, London and St. Thomas, North Bay, Flash and its surroundings, southern Georgia Bay and Ottawa increased by 20 to 25 per cent compared with the same period last year.
As for Hameton, Niagara, Guihu, Cambridge, Grey-Bruce Owen Sound, Kichina-Waterloo, Northumberland, Petersburg and Kawarthas in Ontario, and Monton in Mandike and NewBenz provinces in Quebec, also rose 15 to 20 per cent.
The greater Toronto area, Warville-Midon and Mississippa grew by 10% to 15%.
The average house price in November was 603000 yuan, up 13.8% from the same period last year. Excluding Greater Vancouver and Greater Toronto, the most active and expensive real estate market in the country, the national average house price is reduced by 122000 yuan.