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Toronto area home sales hit record high in 2016, average selling price soars

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Real Estate Professional | 05 Jan 2017, 09:55 AM Agree 0
The Toronto Real Estate Board says the GTA's average home price soared to $730,472 last month, up 20 per cent from December 2015
  • Dealmaker TJ | 05 Jan 2017, 12:59 PM Agree 0
    Maybe the hugely inflated Toronto home prices for detached houses is a blessing in disguise. It is forcing young couples to go to smaller communities like Orangeville, Bradford, Acton, Cobourg ............which will help those communities financially with the influx of " employment dollars" being spent in their Cities instead of in Toronto. Maybe some of these young people fleeing the " real estate bubble" in Toronto will even open businesses in these smaller communities and revitalize them with tax dollars & employment locally.

    I only hope these Cities like Hamilton which is booming with X Torontonians buying homes have the infastructure in place including hospital services & beds to accommodate their growing populations.

    It will be interesting to see within 10 years what % of Torontonians are actually working compared to current stats & what % are relying on government programs including welfare, ODSP, and other programs to pay their bills.

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