Record-setting home prices have emerged in the suburbs, with a growing number of new condominium units sold for over $2,000 per sq ft. The public housing market has seen a record 344 million-dollar flat transactions in the year to date, with the priciest unit changing hands for $1.42 million.
As we enter 2023, “stability” may be the word of the year. Buyers will continue to face uncertainties with the current inflationary landscape and rapidly changing interest rates. The spiralling cost of living and multiple cooling measures may further dampen the pace of price growth.
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