Prices in Toronto's housing market have risen sharply over the last year, with re-sale prices up twenty percent. Meanwhile, the average price tag for a new single-family home in the Toronto metro area has climbed past what many families can afford.
Supporters of the market point to strong immigration, job growth and limited land supply as reasons demand will stay high. Critics warn that rising interest rates or new government measures could cool prices quickly.
Whether bubble or steady bull, buyers and investors should plan carefully, avoid over-extending and seek professional advice before making a purchase.