Nov
08
Toronto Million-Dollar Homes Pushing Demand to Nearby Cities
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Permits in Hamilton rose to record C$204 million in September
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St. Catharines also seeing demand as Toronto prices soar
Toronto’s hot housing market is driving residents to seek more affordable options outside Canada’s largest city, pushing demand for new properties to new highs in these outlying towns.
Residential permits in Hamilton, a city of about 500,000 people an hour’s drive from Toronto, more than doubled to a record C$204 million ($153 million) in September, according to Statistics Canada. That’s the largest jump in more than six years for the area reliant on manufacturing and steel production. The value of permits in St. Catharines, in the wine-growing Niagara region, jumped to the second highest on record to C$66 million in the month…
Toronto Million-Dollar Homes Pushing Demand to Nearby Cities
