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Ontario home prices expected to reach new record average of almost $900K next year


Ontario home prices expected to reach new record average of almost $900K next year
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Home sales data and expert forecasts continue to reiterate how hectic the real estate market in Toronto is, and it s become quite unignorable for anyone who was ever hoping to own property in the GTA  or even Ontario at large that it s going to keep getting less and less affordable to do so.
The latest report to sober anyone hoping to live in the province long-term comes from the Canadian Real Estate Association (CREA), which forecasts that the average price of a home in the province will climb to a staggering $855,218 this year, an unheard of 21.2 per cent higher than in 2020.  ....

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Canadian housing markets set records again in February


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OTTAWA, ON, March 15, 2021 /CNW/ - Statistics released today by the Canadian Real Estate Association (CREA) show national home sales set another all-time record in February 2021.
Summary:
National home sales rose 6.6% on a month-over-month (m-o-m) basis in February.
Actual (not seasonally adjusted) activity was up 39.2% year-over-year (y-o-y).
The number of newly listed properties rebounded by 15.7% from January to February.
The MLS
® Home Price Index (HPI) jumped 3.3% m-o-m and was up 17.3% y-o-y.
The actual (not seasonally adjusted) national average sale price posted a 25% y-o-y gain in February.
Home sales recorded over Canadian MLS
® Systems climbed 6.6% between January and February 2021 to set another new all-time record. ....

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Hanover council briefs


Site Plan Control Agreement
At the March 1 committee-of-the-whole meeting, Hanover council authorized the mayor and clerk to enter into a Site Plan Control Agreement to allow 2745632 Ontario Inc. to construct a new six-storey apartment and mixed use building to be located at 223 10
th Street.
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Hanover council briefs Back to video
On June 5, 2019, Sibghat Ullah contacted the town with interest in purchasing the vacant property located at the corner of 7th Avenue and 10th Street for the purpose of constructing a new six-storey apartment building with commercial uses on the first floor.
Subsequent to numerous meetings and discussions regarding the purchase process and the Site Plan Control Agreement, a Letter of Intent (LOI) was presented to council on July 13, 2020. The next day an LOI was signed authorizing the town to commence discussions on selling the vacant lot at 223 10th Street to Ullah. ....

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