Canada’s National Housing Agency: Toronto Real Estate Market Now In Full Recovery Mode
Woodbridge, Ontario based RLP Maximum has announced that the real estate market in Toronto is seeing a full recovery following years of being overvalued. This is in line with the national housing agency’s decision to move the Toronto real estate market out of the red-risk zone into the moderate yellow area for the first time since 2015. Learn more here: Properties For Sale In Toronto.
A recent report from Canada’s national housing agency showed that, as overvaluation eased, home-buying transactions significantly increased during the first quarter of 2019. Home prices have seen a 0.8% increase in the second quarter of 2019 on an inflation-adjusted basis. Disposable income levels also grew by 0.5%, which means the first-time home-buying population in Toronto, aged 24-34, grew by 3.$. This is higher than the national average of 1.9%.
The agency further states that home sales reached 533,353 in 2016, before falling to 452,189 in 2018 due to overvaluation. However, they are optimistic that sales will reach somewhere between 498,500 and 519,100 by 2021. They also state that the average home price hit $511,830 in 2017, but it is expected to come in at around $488,000 this year. Furthermore, the average home price could be between $539,800 and $569,600 by 2021.
Toronto is considered one of the most diverse real estate markets in Canada, offering everything from modern condominium developments to charming old-world victorian homes converted into multi-unit residences. Many of the establishments in the area are all mixed-use, with a number of retail outlets, restaurants, and other small and medium businesses. These locations have often proven to be resilient, and the potential for investment return is high. More information can be found here: Search Real Estate.
A company spokesperson from RLP Maximum, said, “As overvaluation has eased, now is the time to search for properties for sale in Toronto. Historically, the real estate market in the area has been attracting investors who are looking to buy, rent, and flip properties for a profit. Toronto properties appreciate fast—and demand for rental properties in the area is very high, which makes it an ideal place to invest in real estate.” The spokesperson also explains that investing in Toronto real estate market is profitable due to its growing population of migrant workers. Both immigration and Toronto’s booming tech industry are bringing in a number of qualified home buyers and renters to the city. Furthermore, industry experts argue that Toronto’s strong economy means that there will always be demand for housing, making real estate a good and profitable investment.
Additionally, a Moneysense report shows that the housing demand in the greater Toronto area is only getting stronger. In fact, the area was recently named the fastest-growing city in Canada and the US, and the vacancy rate remains low at just 1.1%. Even though Toronto’s house prices are still on the higher side, real estate experts believe that investing in properties in the area is a worthwhile enterprise if one can afford it.
RLP Maximum has been helping Toronto residents find their next home since 1913. The company leverages their expertise in the real estate market, its associated data and research, and state-of-the-art proprietary tools to help property buyers find a place where they can set down roots. RLP Maximum has also been afforded a sterling silver reputation throughout Canada thanks to their professional team of real estate agents.
The company has listed thousands of properties for sale in Vaughan, Mississauga, Brampton, Richmond Hill, King, Caledon, Oakville, and the surrounding areas on their website. These include vacant lots, commercial buildings, landed houses, condominiums, semi-detached and detached houses, luxury estates, and townhouses for sale. “You can also browse thousands of properties for rent in the area through our website. Simply type in the postal code of your desired location and our online algorithm will find the best properties in the area for your consideration,” says the spokesperson.
Complete details can be found on the company’s website. Property sellers, buyers, and investors may also send an email or call RLP Maximum’s service hotline to inquire about their services. Furthermore, interested parties can search real estate listings on RLP Maximum’s website, or connect with their official social media pages to stay up to date with their latest news and announcements.
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