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12 Friday, July 16, 2021 brooklintowncrier.com Durham Growth Bound to Continue A change of lifestyle has led many people away from Toronto. No longer committed to their daily commute to work, they are looking for more space and cheaper housing prices, while maintaining easy access to the big city amenities. Durham Region fits the bill. Despite the steep percentage increase in cost, average housing prices across the Durham Region remain lower than those west of the GTA. A single detached family home in the region can be purchased for a similar price that you would expect to pay for a multi residential space or condo in Toronto. Despite the easing in sales in June, consistent with the regular seasonal trend, expected demand for housing continued to climb. Fueled by confidence in economic recovery, record low borrowing costs and expectations of interest rates rising in the future, many homebuyers are looking to capitalize on the market now. While this could provide some relief for home buyers in the near term, a resumption of population growth based on immigration is only months away. "While sales have trended off the March 2021 peak, so too have new listings," said TRREB Chief Market Analyst Jason Mercer. "This means that people actively looking to purchase a home continue to face a lot of competition from other buyers, which results in very strong upward pressure on selling prices."