Toronto Home Prices See Record Annual Price Jump

Home prices in increased in most of Canada’s largest housing markets in March compared to February, while Toronto and Vancouver saw a new record price increase year-over-year according to the Teranet-National Bank Composite House Price Index, which is considered to be a major measure of the country’s housing market.

Across Canada, the average house price increased by 4.7 per cent year over year in March, but Toronto saw a 7.6 per cent increase and Vancouver saw a 5.3 per cent increase.

The price increases are mostly driven by a shortage of listings and a high demand. For more, check out this Toronto Star article here.

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