toronto

Toronto Home Sales Fall 40%, Prices Down Nearly $175,000 Since April

Toronto Home Sales Fall 40%, Prices Down Nearly $175,000 Since April

Home sales in the Greater Toronto Area tanked last month and prices continued to recede, the city's real estate board said Thursday, further evidence that provincial measures aimed at cooling one of the hottest housing markets in North America may be working.

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Ontario To Place 15 Per Cent Tax On Foreign Buyers To Cool GTA Housing Market

Ontario To Place 15 Per Cent Tax On Foreign Buyers To Cool GTA Housing Market

The Canadian Press has learned that the Ontario government will place a 15-per-cent tax on non-resident foreign buyers as part of a much-anticipated package of housing measures to be unveiled today.

The measures are aimed at cooling down a red-hot real estate market in the Greater Toronto Area, where the average price of detached houses rose to $1.21 million last month, up 33.4 per cent from a year ago.