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GTA condo, new house price gap soars
Government policies are distorting the real estate market in the Greater Toronto Area, causing the price of new houses to rise by too much in relation to condos, a building industry group suggests.
The index price of new houses (including detached homes and townhouses) rose 16 per cent last year to a record high of $632,868 in the GTA, as buyers chased a dwindling supply, according to a report released Wednesday by real estate research firm RealNet Canada Inc. and the Building Industry and Land Development Association (BILD), which represents developers and builders.
Read the full article here.
Government policies are distorting the real estate market in the Greater Toronto Area, causing the price of new houses to rise by too much in relation to condos, a building industry group suggests.
The index price of new houses (including detached homes and townhouses) rose 16 per cent last year to a record high of $632,868 in the GTA, as buyers chased a dwindling supply, according to a report released Wednesday by real estate research firm RealNet Canada Inc. and the Building Industry and Land Development Association (BILD), which represents developers and builders.
Read the full article here.