July sees record-breaking housing prices in the Greater Toronto Area

July sees record-breaking housing prices in the Greater Toronto Area.Figures released today by the Building Industry and Land Development Association (BILD) show record-breaking prices for detached and semi-detached houses and town homes, with prices increasing more than $100,000 in 12 months.In July, the average price of new detached and semi-detached homes in the GTA was $906,508, a 12 per cent increase from the year before.

High-rise homes in the GTA also increased by seven per cent, with the average cost of a unit valued at $475,764.

In Mississauga, the average price of a home sold in June 2016 was $637,660, up 12.7 per cent from June 2015.

Brampton is also seeing a steady increase in the housing market, with the average home selling for $570,380, up from last year’s average of $460,485

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