November was a busy month in real estate with new mortgage rules & land transfer tax changes. These changes tend to focus on demand but the real issue in the GTA is supply. Enormous gains across the board underline that point with some markets seeing over 30% increases year over year.
Here's a quick little snapshot:
- With all the talk of too many condos being built - they have increased almost 14% (we have personally been involved in many bidding wars for condos- definitely a hot sector).
- Oshawa and Aurora saw massive gains of 30%
- Detached homes in Toronto hit almost 33% gains