Veteran real estate agent John McGrath said the housing market’s downturn will continue into 2019 with more than 10 per cent falls in Sydney and Melbourne.

Should I wait on buying a home in Toronto suburbs due to the real estate boom?

The 8 million range is a lot different than the million range.  I have a good friend who sells a lot of real estate in Toronto and my understanding is that the market is similar to the Silicon Valley with high demand and multiple offers. As an 8 million dollar buyer,  you likely didn’t get your money by throwing it around unwisely,  so I understand you practicing caution before diving in.  That being said,  here in the Silicon Valley which is as hot if not hotter a market than Toronto,  8 million is still a price point you can negotiate with the seller.  You will likely be the only buyer or maybe compete with 1 or 2 others at most. It is extremely important that you have top notch representation.  Pm me if you need some recommendations.  Then, I would find a house you like,  offer and make a deal.