With One More Month to go in 2014, and another year of record increases in the GTA, get ready for another year of price jumps in Toronto and surrounding areas.
If you are looking to buy a place in Toronto, and surrounding areas get ready to pay more. If you are selling in Toronto, you will get record prices for your neighbourhood.
Now, these predictions always come with a disclaimer. Think of the CN tower as sort of a centre for the most money, and going north east and west, as a gage for properties to not get the same amount. The closer you are to downtown, the more your percentage will go up. The farther, well you get the idea.
With all this talk of record sales in Toronto, please don’t get your head too far up your keister to understand that every sale and property is different. There are exceptions to gains and neighbourhoods. Not everybody wants to live in high areas of crime in Toronto.
There have been reports that interest rates are going up a bit in May and that could cool the market a bit, but no matter what, there is no more room in Toronto, and a lot of Traffic getting worse coming into the city, and a lot of immigrants moving into the area. So get ready to pay if you’re moving downtown.