26 Apr 2012

Housing prices down slightly, but up in Toronto

Housing prices in Canada dipped slightly in the first few months of the year, but are still higher than they were in 2011, reports The Financial Post.

The February report of the Teranet-National Bank National Composite House Price Index indicates that prices fell slightly in January and February compared to previous months. January was down 0.1 percent, while February was down 0.2 percent. However, both months were still significantly higher than 2011, by more than 6 percent. The index's methodology tracks repeat sales of the same home to see how prices change year-to-year.

The index also showed what other reports have confirmed: Toronto is the hot real estate market of the moment. Vancouver was previously the city with all the real estate action, but prices dropped 0.3 percent in February. Meanwhile, Toronto was up 0.1 percent for the month, and 10 percent higher than the previous year, outpacing the national average on both counts.

Those looking to move to Toronto should consider the use of a self storage facility to make things easier. There are many solutions for affordable self storage in Toronto and other major Canadian cities that can take the pain out of moving a large amount of objects at once.

Jiffy Self Storage, a leader in Toronto storage solutions, is currently running a contest on their website for a free iPad 3. Visitors to the site simply need to match a few Canadian landmarks and they'll be entered to win the iPad or one of several other prizes.

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