Average house prices in the Toronto market are forecast to start trending down in the second half of 2010, according to a house price survey by Royal LePage.
The real estate services company said Wednesday that house prices are expected to increase by 7 per cent by the end of this year compared with 2009. But those increases were frontloaded to the first six months of the year as buyers tried to take advantage of low interest rates and lower taxes.
“This growth has already been accounted for in the first half,” said Gino Romanese, senior vice president of Royal lePage. “Average prices are expected to decline moderately for the remainder of the year.”
July 7, 2010
By: Tony Wong, Business Reporter
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