Low-rise homes in the GTA have reached record high prices, with the average cost of new detached, semi-detached, and townhomes up 17% in November 2015 compared to the previous year.
“Prices in the low-rise market have more than doubled in the last 10 years,” said BILD president and CEO Bryan Tuckey, referring to the $388,805 average price of low-rise homes in 2005 compared to $818,354 in 2015. “This significantly reduces the average buyer’s ability to afford a new low-rise home in the GTA.”
Lack of inventory is a contributing factor in these record high prices. In 2005 there were 17,311 low-rise homes available for sale, while in 2015, there were only 4,669 – a decrease of 73% overall.
Members of Greybrook’s Institutional Capital Markets team recently attended and sponsored Future Proof Festival, the world’s largest four-day wealth management festival, held in Huntington Beach, California. As part of its sponsorship, Greybrook supported the QWealth Canadian Lounge, a dedicated gathering…
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