“TORONTO – A new forecast suggests Ontario home prices will rise about four per cent a year through 2016, down from a decade-long annual average of about six per cent.
The forecast by Central 1 Credit Union says higher mortgage rates in the next three years will restrain housing sales but not cause a market correction.
It also predicts the Toronto condo market will slow as builders delay new construction in the face of weaker demand.
Central 1 says the total number of new condos in Toronto in pre-construction, under construction, occupancy and sell-out phases will be about 100,000 units at the end of 2013.”
-The Canadian Press
http://ca.finance.yahoo.com/news/ontario-home-prices-rise-4-per-cent-2016-111559176.html