According to recent research conducted by the Municipal Property Assessment Corporation, the average sales price for residential properties in Ontario has increased 17 percent in the past four years, proving that the real estate market remains strong in the province.
A strong real estate market means more residents of Toronto may be looking to upgrade from their current homes. These people that are looking to move should research Toronto professional movers and packers that will take much of the legwork out of changing homes.
“This report is good news for most Ontario homeowners," said Larry Hummel, chief assessor of the MPAC. "It shows the average sale price of residential properties in most communities has increased since 2008 and that the real estate market continues to be strong. We have a vast amount of current, detailed information on residential sale prices across Ontario."
Residents of Toronto will get their property reassessed this year, with the MPAC planning to mail out Property Assessment Notices in the fall. Hummel said these assessments will not necessarily mean an increase in sales taxes, it is dependent on a number of different factors.
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