Click on the chart to get a full view of it.
The chart above demonstrates Toronto sale prices and who’s buying. Indicating that despite rising prices 59% of buyers are still in the under $400,000 range. The bulk of these will be first time buyers purchasing condos or lofts in the city.
17% are between $400-$500k and the balance of 24% make up the rest of the buyers in the city from $500k to approximately $10 million $. That gives you a good idea of who our demograhic is in this city.
As interest rates rise a whole group of buyers will be knocked out of the market, this will cause some stalling in the market and could cause a small price drop, allowing more buyers to enter the market. This benefits all the move up buyers.