Toronto home prices jump in October despite new mortgage rules

Toronto’s real estate sales climbed more than 11 per cent in October compared with a year earlier, despite the introduction of new federal mortgage rules aimed at cooling the region’s overheated housing market.

The average price of all homes across the Toronto region rose 21 per cent to $762,975 last month, compared to October 2015, according to the Toronto Real Estate Board (TREB) on Thursday. Real estate sales climbed 11.5 per cent in October, compared to the same month in 2015.

Anton Malakhveitchouk