February
2022 Real Estate Market Report
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Will rate hikes and policy changes cool Canada’s housing in 2022?
According to
a recent report by RBC, approximately 667,000 home transactions were completed last year, up 21 per cent
(or 114,000 units) from the previous record set in 2020.
“Intense buyer competition should keep
prices on a steep upward trajectory in the near term,” said RBC senior economist Robert Hogue in
the report. “However, we believe interest rate increases will alter the market’s course later
this year.”
RBC anticipates the Bank of Canada will begin raising interest rates in the spring, boosting its overnight
rate up 150 basis points in less than a year and a half.
Read the article here
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Toronto prices to jump another 12% in 2022: TRREB
The average selling price of a home in the
Greater Toronto Area is expected to hit a new record in 2022, according to the latest insights from the
Toronto Regional Real Estate Board (TRREB).
- Sales to reach 110,000 as average selling
prices top $1.2 million in 2022
- First-time buyers likely to drop, detached homes to remain popular
- Sales and new listings take a hit in January
Read the article here
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2021 home price growth surpasses 2016 peak as major cities report record increases
At the
conclusion of 2021, Canadian home prices grew more than 15 per cent annually, beating out the previous
market peak that was established around five years ago.
Of the 11 cities the composite index analyzes,
growth was driven by yearly prices increases in Halifax (30.7 per cent), Hamilton (25.4 per cent),
Victoria (19.7 per cent), Toronto (16.8 per cent), Ottawa-Gatineau (16.3 per cent) and
Montreal (15.6 per cent). Four of the cities — Halifax, Hamilton, Montreal and
Victoria — reported all-time high price growth between December 2020 and December 2021.
Read the article here
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Walter
St., Kitchener
Spacious Luxury Home
3 Beds, 3 Washrooms
Steps from Wilfred Laurier
and Waterloo Universities
Minutes from Grand River Hospital, King Edward Public
School
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In the Dorset Park Community
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In the Kingsview Village-Westway community
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Recently Bought in Guelph
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After
looking at multiple properties and putting multiple offers, I was recently able to secure this home
for my clients, after competing with 21 offers.
Let me know if you are looking for something similar.
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What My
Clients Are Saying
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Indranil Ghosh is the most patient, friendly, knowledgeable Realtor I have ever met. He never says
no to any inquiry or endless questions. He has been helping me and my families for last 12 years. I have
referred him to many of my friends and families and never heard any negative comments about him from any
of them.
His staging and presentation of the house is amazing. When it comes to look for a house, he will make
you knowledgeable and help you make the best decision. I would highly recommend him to anyone looking
to sell or buy home without any doubt.
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Take Advantage
of Great Offers at The Brick!
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A message from
Royal LePage’s Preferred Supplier: The Brick
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Royal LePage clients can now take advantage of preferred Pricing on most retail product offerings, including Furniture / Mattresses / Appliances / Electronics.
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Let me help you get what you want,
yes, even 3 or more washrooms.
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(647) 404-9471
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