Canadian home prices have been climbing for years, but with the introduction of new mortgage rules and January’s Bank of Canada rate hike, will prices continue to rise in 2018? According to some industry experts, the answer is they likely will.
In Canada’s hottest housing markets — Toronto and Vancouver — many industry watchers are predicting that price growth will continue this year as strong demand, particularly in the condo segments, is met by limited supply.
Low supply causing prices to spike
Although the Greater Toronto Area saw a 17 per cent year-over-year increase in new listings last month, total new listings were the second lowest for the month of January in the past 10 years. Meantime, new listings in Metro Vancouver dropped 8.3 per…