The main areas of the GTA will retain the prices they had at the end of 2017. Of course, some highly demanded areas and downtown will see a rise in prices. I agree with the analysts’ forecast and I believe that the price increase will coincide with the level of inflation and will not exceed 2-3% in the GTA except for certain areas such as Forest Hill, or downtown. The price growth will primarily be in areas with a high price per square meter and in districts with a lack of available vacant areas for new projects.
A number of districts such as Richmond Hill, Markham, Aurora and others in the York Region will continue the downward price trend that began in the summer of 2017.
A similar trend awaits multi-apartment buildings built after the year 2000.
Increased demand will be steady for 1 bedroom apartments and studios but for owners of 2 bedroom units, a price growth in 2018 should not be expected.
In the market of cottages within a radius of 200 km from the GTA, the prices seen at the end of 2017 will remain. The cost of water front lots (1/2 acre size) starts from CAD$ 250,000, and is dependent on the quality of the buildings and the nearby infrastructure. The higher construction cost compared to Toronto meas the absence of properties built after the year 2000 selling for an affordable price. If you are dreaming of buying a quality cottage, then you should not wait for cheap prices in 2018.