In an updated housing forecast for 2024, Royal lePage expects GTA home prices to surpass Greater Toronto in the second half of the year.
After a busier than expected start to the year in real estate sales, a first quarter report from Royal LePage predicts the GTA will see the largest increase in aggregate housing prices in Canada this year.In an updated housing forecast for 2024, Royal LePage expects GTA home prices to surpass Vancouver in the second half of the year. That's according to the Home Price Update and Market Forecast released Thursday by Royal LePage.
Warm winter weather and anticipation of reduced interest rates from the Bank of Canada have "prompted some buyers who had been sidelined last year to re-enter the market with a renewed sense of purpose," said Royal LePage COO Karen Yolevski in the report. That means increased competition whileGTA prices are expected to increase more than any other jurisdiction this year, according to Royal LePage, followed by a projected eight per cent increase in Montreal.
Nationally, Royal LePage predicts the year-over-year increase in aggregate home prices will be nine per cent, up from an originally projected increase of 5.5 per cent.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GTA housing prices could surpass Vancouver by end of 2024: Royal LePageHousing prices in the GTA are expected to rise 10 per cent this year and will likely surpass those in Greater Vancouver by the end of 2024, according to an updated forecast by Royal LePage.
Read more »
Will Metro Vancouver have a hotter-than-normal summer in 2024?Summer is looking toasty.
Read more »
These six Metro Vancouver parks are booze-friendly in summer 2024Regional parks in the Lower Mainland are getting designated drinking zones this summer after a pilot project was approved by the regional board March 22.
Read more »
Metro Vancouver Retail, Office, And Industrial Leasing News: March 2024Howard is a Staff Writer based in Burnaby who covers real estate and commercial real estate, with a focus on housing policy and the development industry.
Read more »
‘Critical tipping point’: Home price forecast rises amid strong start to 2024, says Royal LePage'Just about every region from coast to coast remains chronically short of housing supply.”
Read more »
So Fun City Monthly Events Calendar: April 2024 - Vancouver MagazineHey Vancouver, think we’re a “No Fun City”? Think again! We’re here […]
Read more »