GovernorARNOLD
New Member
interest rates are on the way up. Does the this mean we will see less building and a price drop across the board?
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Interest rate vs Condo prices
- Thread starter GovernorARNOLD
- Start date
dt_toronto_geek
Superstar
Interest rates have been slowly rising for a while now. If there comes a time where mortgage rates get too high growth within the housing market will soften. The pricing on residential properties within a given market is ultimately determined by many factors other than interest rates.
Observer Walt
Senior Member
We may see a bit of a decline in the number of projects coming to market. But ultimately I have to agree that many other factors come into play. Most noteably, the overall state of the economy, which remains strong, and the availability of condo sites, which is still good, although maybe on the decline in some parts of the city.
Demand for condos certainly remains strong at present. Urbanation, who track the condo market, reported that in the first quarter of 2007 prices are up 7.4%, in the new construction market, from a year ago.
Demand for condos certainly remains strong at present. Urbanation, who track the condo market, reported that in the first quarter of 2007 prices are up 7.4%, in the new construction market, from a year ago.