Rich home sales up in Toronto, Vancouver
TORONTO — Sales of homes worth $1 million or more heated up in Toronto and Vancouver last year as the low loonie fuelled demand from foreign buyers, a new report released Thursday says. The report from Sotheby’s International Realty Canada says 11,112 homes worth $1 million or more were sold in the Greater Toronto Area last year - an increase of 48 per cent over 2014. In Vancouver, 4,578 homes over the $1 million mark were sold in 2015, up 46 per cent from the previous year. The realtor says sales of homes worth more than $4 million grew the most - in Vancouver by 67 per cent, and in Toronto by 71 per cent.