House Hunting in ... Toronto

Until April 20, when the province of Ontario implemented the Fair Housing Plan with a new 15 percent Nonresident Speculation Tax on single-family homes, “the housing market was gangbusters,” said Steven Green, a sales representative at Royal LePage Partners Realty. With 30 percent growth in a single year, the lack of supply was creating unsustainable demand with “multiple offers and bidding wars,” Ms. Irish said, which was partly driven “by an international buying spree.”