Appendix: Data and Trends on the Real Estate Market
Ontario's housing market has seen very dynamic growth in recent years, with prices in the Greater Toronto Area and the Greater Golden Horseshoe rising significantly. This has been supported by economic fundamentals, including a growing population, rising employment, higher incomes and very low borrowing costs.
House prices have been rising at a robust pace in the Greater Toronto Area since the end of the 2008-09 recession.
After two consecutive years of double-digit gains, average house prices in the Toronto region reached $916,567 in March 2017, up 33.2 per cent from a year earlier.
See image "Toronto Home Resale Prices"
The Greater Toronto Area showed the sharpest rise in home prices in Ontario over the past two years.
While the growth rate of prices of homes in the Greater Vancouver Area have been slowing since August 2016 after the introduction of B.C.'s foreign-buyers tax, home prices have been climbing steadily in the Greater Toronto Area.
See image "MLS Home Price Index", "Greater Toronto Area Price Increases Outstrip Other Cities" and "Housing supply in Ontario seems to be aligning with demographics".
According to Urbanation, the average rent per square foot for new leases in the Greater Toronto Area condo market rose 11 per cent in the last quarter of 2016 compared to a year earlier, the fastest pace of growth since at least 2011.
See image "% change, year-over-year, GTA".
The number of owners with more than one residential property has been rising steadily since 2000.
See image "Number of Owners With More Than One Residential Property in the GTHA: 2000-16".
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