Estate Board: Price Growth and House Prices

estate board: Here are some of the factors believed to be playing a role in the upwards trajectory of house prices in Canada's largest city Immigration The arrival of newcomers to the city is a frequently cited reason for rising prices, according to CTV. Roughly 120,000 people immigrated from outside of Canada into Ontario from July 1, 2015, to June 30, 2016, according to Statistics Canada, with a sizable portion of them landing in the Toronto area. The latest data from the Toronto Real Estate Board comes as policy-makers mull potential measures to slow the rapid pace of price growth. Toronto is a magnet for both other Canadians and for people from other countries, and it's the economic engine of the entire country, says Dianne Usher, senior vice-president at Johnston and Daniel, a division of Royal LePage. In 2005, the Ontario government introduced the Places to Grow Act, a piece of legislation aimed at protecting the Greenbelt and curbing urban sprawl. Lack of supply One of the culprits often fingered for soaring prices in the Greater Toronto Area is the lack of developable land. (www.immigrantscanada.com). As reported in the news.