The Canadian Real Estate Association (CREA) reported that the average house price in Canada increased 11.2 per cent in the past year. In Toronto, GTA, the average increase is higher at 16.8%, or approximately $107,362
One way to see it, notes Douglas Porter, Bank of Montreal Chief Economist:
“In other words, for the typical Canadian, your home made more than you did last year
“And that pile of bricks (or lumber, or plaster, or glass) just sat there, while you had to grind it out every weekday and maybe more.”
For the full report: How much houses made or lost, in different Canadian cities
That’s great news for all HomeOwners, but before you quit your job and let your house become the Breadwinner, if you intend to stay in Toronto – where would you go/buy next ? Let us help you with those decisions
Panoramic Images via Getty Images
Christine Ng is a Real Estate Broker with Royal LePage Signature Realty, and can be reached at: firstname.lastname@example.org, 416.443.0300.