South Forest Hill Residences reviews.Canadian house prices increased by 26.6%. Canadian real estate market with record housing prices and growth.Please Visit: South Forest Hill Residences reviews to Get Your VVIP Registration Today!
It ended in 2021, the second year of the COVID-19 pandemic in the country. This has spread the problem of unaffordable housing from the two metropolitan areas of Wenzhou and Duoduo to other small and medium-sized cities. Industry experts say such a hot market is likely to last until 2022.
In the past year, a total of 666995 homes were resold across the country, an increase of 20% year on year, breaking the record just set in 2020. At the same time, the national average house price increased by 26.6% to 811700 yuan, both of which reached an all-time high. This figure is adjusted for price fluctuations (Price Volatility), so it better reflects the real changes in house prices.
It is worth noting that the phenomenon of average housing prices and “double high” growth has not only been a “patent” of the metropolitan area, but has spread to some small areas. In Chilliwack, BC province, or Cambridge or Brentford, Ontario, the house price index has risen by nearly 40%, and the typical value of a property is at least 200000 yuan higher than it was a year ago.
This means that the problem of unaffordable housing is spreading from the two metropolitan areas of Wen and duo to other small and medium-sized cities.
In traditional housing hotspots, house prices are even more shockingly high. For example, prices in several cities in South Ontario have exceeded 800000. As for the house price in the Toronto area, it has exceeded 1 million yuan. In December, the region’s house-price index rose 31% from a year earlier. It has become the norm for houses to continue to be sold at prices higher than the listed price.
Now that the country is entering the third year of the COVID-19 pandemic, 2022, the housing market shows no sign of cooling-despite warnings from federal agency Canadian Mortgage and Housing Corporation (Canada Mortgage and Housing Corp.) that the Canadian housing market is overheating and is at risk of price adjustment.