GTA Real Estate Market

Ontario brings in around 110,000 permanent residents every year out of which most of them settle in the GTA, so in the coming seven or eight years we’ll have another million people living in Toronto which will put upward pressure on the demand and as supply is limited so prices will go up.

Canada’s national housing agency CMHC has moved the Toronto region housing market out of the high-risk red zone into the moderate yellow area for the first time since 2015. But while the market as a whole is at less risk, some housing types, such as condominiums, are still vulnerable to overheating and price acceleration.

GTA realtors reported condominium apartment sales, during the third quarter of 2019, up by 11.1 per cent as compared to the third quarter of 2018. New listings of condominium apartments were at 9,538, down by one per cent year-over-year in the third quarter. Lower inventory and higher demand results in higher prices.

Toronto’s housing prices are on rise due to shortage of supply and higher demand. The benchmark price, which accounts for differences in the type of homes sold, rose 5.8 per cent from a year ago to $810,900, the Toronto Real Estate Board said in a report Tuesday.

Survey shows that housing demand in GTA will go up. Greater Toronto area has significantly benefited from international migration to Canada. As Canada's population is on rise so would be the housing demand and prices.