Housing prices in Toronto continue to rise, therefore the average cost reached $913,096.
New figures published by the Council for the Toronto real estate (TREB) on Thursday, showed that the annual pace of price growth in the greater Toronto area has just reached its highest point this year and 5.8% in September 2019.
Sales also increased year on year, by 22 per cent, although analysts caution note that when 7,825 sales number last month was still significantly below the record peak (more than 9,800 sales in September 2016).
“People who buy housing for the first time in my life, still struggling to find a home that they can afford,” said the Council.
Both in Toronto and in greater Toronto area, condos are still the most popular purchase, than private homes.
Despite this, many of those who buy housing for the first time, try to choose a private home for family life.
The average price in the sale of a private home in Toronto, was last month $1,360,623, according to the Council, and in the greater Toronto area $946,256.
Meanwhile, the condo prices last month averaged in Toronto $636,817, and $497,403.
The overall average cost among all housing types rose in September 2019 $913,096, whereas last year in the same month, it was $864,839.
Katrine Johns has been a reporter on the news desk since 2013. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Gal Post, Katrine Johns worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my email@example.com 1-800-268-7128