More than one-third of first time Ontario homebuyers get help with down payments. A new report suggests the gifts average $128K
More than one-third of first-time homebuyers in Ontario are getting help with their down payment and the average gift now tops $100,000, according to a report from CIBC.released on Tuesday, CIBC economists Benjamin Tal and Katherine Judge said that approximately 36 per cent of first time homebuyers in the province are using gifts to cover all or a potion of their down payments.
The bank says that the average gift received by first time homebuyers in Ontario is now up to $128,000 and trails only British Columbia, where the average first time homebuyer gift amount is $204,000.In B.C., the number has surged by 90 per cent. The average price of a Toronto home was $1,165,691 in May, which actually represented a 2.5 per cent decline from this time last year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fanatics Sportsbook promo: Earn $100 in bonus bets daily for 10 days through bet matchesFanatics Sportsbook offers you up to $1K in bonus bets through your first ten days after signing up for a...
Source: DailyFaceoff - 🏆 25. / 68 Read more »
We Could “Wake Up to Bitcoin $200,000” and BlockDAG Network $100 Mil: A Maximalists AnalysisBitcoin’s second dip below $67,000 this week triggered a frenzy of buying, marking the second-largest surge in crowd interest over the...
Source: CryptoAmb - 🏆 22. / 68 Read more »
U.K. mom shares what $100 worth of groceries looks like and Canadians can't relateA U.K. mom's haul of weekly groceries has people 'crying in Canadian.' TikToker mumlifewitherin shared what £65 — around $112 CAD at the...
Source: blogTO - 🏆 44. / 63 Read more »
New Brunswick health authority blames Canadian Health Labs for $100 million deficit, committee hearsOfficials from the Vitalité Health Network told legislators they have been in a drawn-out legal dispute with the Toronto company Canadian Health Labs
Source: globebusiness - 🏆 31. / 66 Read more »
Mexico Unicorn Clip Raises $100 Million From Morgan Stanley(Bloomberg) -- Mexico’s payments startup Clip has raised $100 million from Morgan Stanley Tactical Value and another West Coast investor. Most Read from...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Mexico Payment Unicorn Clip Raises $100 Million in Funding RoundMexico’s payments startup Clip has raised $100 million from Morgan Stanley Tactical Value and another West Coast investor.
Source: BNNBloomberg - 🏆 83. / 50 Read more »