905 housing market is picking up steam.

With average home prices topping out at close to $700k in the 416 area, many homebuyers are looking at the surrounding 905 areas to snatch up a deal. Double-digit growth in home prices has been recorded in 10 out of 11 905 areas.

There is mention of a cooling-down period attributed to Ottawa’s recent announcement on more rigorous mortgage restrictions but for now, areas such as Oshawa, Whitby, Hamilton and St. Catharines are seeing unprecedented growth in sales.

Link: http://www.cbc.ca/news/canada/toronto/toronto-home-prices-1.3802232