Toronto's real estate board is laying the blame at the government's door for a "volatile" year that saw sales drop more than 18 per cent and prices for detached homes dropped.

Record sales in the first quarter were followed by a decline after the Ontario Fair Housing Pland was announced. The new federal governement lending guideline will also continue to effect the market well into 2018.

"Much of the sales volatility in 2017 was brought about by government policy decisions," said Toronto Real Estate Board (TREB) president Tim Syrianos in a statement.

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