The big question in today’s housing market is whether or not Toronto house prices will go the way of oil? Not likely, say the experts at D. J. Lister Limited Real Estate Brokerage.
Low borrowing costs and substantial economic and population growth will form a healthy backdrop for a continued rise in prices and sustained demand in the GTA, according to David Lister. He predicts up to 100,000 new people will be seeking accommodation in the area in the next two years, creating continued upward pressure on prices.
House prices are expected to rise in 2016 to an average price of $641,000, up from $608,000 in 2015. Projected average prices are expected to rise again in 2017 to $670,000.
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