According to the Royal LePage House Price Survey released today, Canada’s residential real estate market saw strong, but slowing year-over-year price growth in the fourth quarter of 2017. Two-storey and bungalow home values softened in the GTA, slightly declining on a quarter-over-quarter basis. Meanwhile, in both Greater Vancouver and the GTA, condominium prices continued to outpace all other property types, primarily due to growing affordability constraints within these markets. “In the tug-of-war between a rapidly expanding economy and tough mortgage regulations, the economy wins,” said Soper. “The demand for new housing, be it for purchase or rent, is going nowhere but up.” “Insufficient housing supply and growing demand will ultimately offset the effects of tighter regulations,” Soper continued.
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