July 2012 Ontario Economic Fundamentals

[Ally]

No Toronto condo bubble





There is no bubble in Toronto`s condo market, says the economics department of Royal Bank of Canada, the country`s largest bank and biggest mortgage lender.




And worries about the market are largely overdone, senior economist Robert Hogue says in a report to be released Tuesday.




He argues that the market does not pose as much risk as many people, including top policy makers in Ottawa, think it does.





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[Ally]

Home prices up 17% in Ontario, most of the growth in the north





TORONTO - Average Ontario home prices have risen 17 per cent over the past four years, with the most significant growth seen in the province's north, according to a report released Tuesday.







The Municipal Property Assessment Corporation, which tracked home sale prices in Ontario between Jan. 1, 2008 and Jan. 1, 2012, said the figures are good news for Ontario homeowners as they suggest a strong real estate market.







Read it on Global News: Global News | Home sale prices up 17 per cent in Ontario, most growth in the north: MPAC





Read the full article here.