Prices of newly built homes climbed higher in June as Toronto-area home-buyers fled the city in favour of wine country.

The board says there were 4,606 sales in the Greater Toronto Area through its MLS system in May, down 53.7 per cent compared with a year earlier.

Revamped demand from buyers, along with long-term supply pressures in the resale market, will likely bring heated competition for new listings.

The Local Planning Appeal Tribunal says it has dismissed an appeal by several residents who objected to the rules that put limits on how people can rent out their properties.

The national average home price is once again closing in on $500,000.

The Canada Mortgage and Housing Corporation has released a report tracking home ownership trends among Toronto residents 65 or older.

The latest national home resale figures show sharply diverging trends in different parts of the country.

The Canadian Real Estate is upgrading its outlook for 2019, but price growth is still muted in many markets.

The national average price edged up 0.3 per cent in April compared to the same month in 2018.

Speaker Ted Arnott informed legislators of the change on October 16 but a report that reflects the increase won't be made public until sometime this summer.