BRIAN'S BLOG
March Newsletter: TO’s Best Sub Sandwiches – Pics of TO in the 80s – GTA home prices up 28% from last year as supply remains hampered
March 9, 2022
The city and the province are officially open! With the relaxed protocols, this signifies we’re nearing the end of COVID years. As of March 21st when mask mandates are lifted, it seems the only remaining protocols will be around travelling in and out of Canada. For some it’s too soon and for others, not soon enough. For all our sakes, let’s hope this means life as we once knew it can return in time for spring!
For the first time since 2018, the Bank of Canada raised the key interest rate by .25%, which is likely the start of a number of incremental increases meant to slow down the housing market. For more of my thoughts on what’s happening in the market, check out my latest blog.
Home prices continue to rise in Toronto and despite a few more listings hitting the market, there is still not enough inventory to satisfy demand. The most dramatic price increases happened outside of the 416, but the average home in February cost 23% more than it did this time last year.
There’s a lot of good stuff below…but specifically, don’t miss my listing for a modern one bedroom suite by the lake with a stellar CN Tower view. It’s a phenomenal investment property!