A tale of two cities, Vancouver and Toronto, both announced their sales figures for June ,2019, one up, one down. Vancouver sales fell by 14.4% year over year while Toronto’s rose over 10% year over year, benchmark prices in Toronto for
the average price of a home increased 3% from last June to C$832,703. While sales of detached homes surged 19% from last year, they were the only segment to see prices drop on an average basis, falling 1.4%. In Vancouver, the MLS® Home Price Index composite benchmark price for all residential properties is currently $998,700. This represents a 9.6 per cent decrease over June 2018 and a 0.8 per cent decrease compared to May 2019.
Despite the rebound, the Toronto housing board continues to ask policy makers to provide more flexibility on mortgage qualifications and to take measures to boost supply. Vancouver is doing the same.
Currently Close Range
USDCAD 1.3055 1.3058 1.3038-1.3079
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GBPCAD 1.6425 1.6421 1.6392-1.6461