CONFERENCE BOARD REJECTS PESSIMISM OF TORONTO HOUSING MARKET

Mar 24, 2014

By Scott Walker

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The Conference Board of Canada is optimistic about the Toronto housing market.

In a study of the Canadian real estate market, the Ottawa-based think-tank rejects the idea that Toronto’s market is a bubble ready to burst.

Numerous reports have said that the market is over-built and over-valued, but the Board says Toronto’s population is growing by 80,000 a year, and that will keep the market strong.

Robin Wiebe is a Senior economist at the Board. He says the Toronto market saw growth of three per cent over the last six months. He says, while that’s not spectacular growth, it’s still growth.

The Board says building permits for condos doubled in the last sixth months of last year over the year before. That means construction cranes will continue to be a prominent feature of the Toronto skyline for some time to come.

 

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