For the second month in a row, the Greater Toronto Area experienced double-digit growth in home sales. A total of 9,989 homes were bought, which was an increase of 18.9% from the same time in 2018. Further, sales increased by approximately 10% from the previous month.
While the increase in sales looks promising for Toronto’s real estate market, it is important to note that sales are still below the 10-year trend for the month, which is usually over 10,000 homes sold.
York Region was hit hardest by the Ontario Fair Housing Plan introduced two years ago, reports Zoocasa, while Windsor and London home prices have grown substantially.
Those are just a few of the findings the online brokerage discovered when they examined how the 16 measures introduced by the former Liberal provincial government affected the province’s housing market.
The measures included a 15-per-cent foreign buyer tax for non-residents, rent controls for new builds and incentives for developers.