Well, despite June being declared by the media to be the beginning of the slow summer real estate market, our June infographics tell a different story in Toronto.

theBRELteam_State_of_the_Market_Downtown_HOUSES_JUNE

theBRELteam_State_of_the_Market_Downtown_SEMI-ROW_JUNE

theBRELteam_State_of_the_Market_Downtown_CONDOS_JUNE

  1. So by the article, you are telling me that my property price has gone up by 11% just in 1 year. How will this effect me in terms of property tax and everything, because my salary has not gone up 11% yet, that what pays the bills not the house value.

    Thanks

    • Melanie Piche says:

      Toronto is in the middle of a 4-year phased in property assessment now, and assessed values are still considerably lower than actual market value. I would expect the city to a phased-in re-assessment next time too, so I think it’s unlikely that your taxes will suddenly jump 11%. We’ve seen double-digit increases in Toronto for a quite few years now and the city generally adjusts things more slowly…

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