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Toronto House Price Increase 2020

Any lingering concerns that the mortgage stress test and new taxes put the Toronto housing market into a deep sleep can now be laid to rest, says the Toronto Regional Real Estate Board (TRREB).

Instead, the board is predicting a double-digit climb in sales and prices this year that will boost the average cost of a resale home up nearly 10 per cent to $900,000 compared to last year’s average of $819,319.

Last year saw a 12 per cent growth in the average home price compared to 2018 and the board is warning that in the year ahead, buyers are going to face increased competition for a flat or declining number of listings.