Monthly Archives: December 2018

Month: December 2018 Home sales in Toronto drop in November, 2018 following spike in sale prices

  Home sales in Toronto drop in November, 2018 following spike in sale prices   Toronto remains a seller’s market after home sales across the Greater Toronto Area (GTA) dropped nearly 15% this November, 2018, compared to a year ago.   According to the Toronto Real Estate Board (TREB), there were 6,251 residential transactions recorded through its system last month, a 14.7% drop compared to November last year. On a seasonally adjusted basis, sales were down by 3.4% compared with October 2018.   The average selling price for November was up by 3.5% year-over-year to $788,345, according to TREB. When adjusted seasonally, the average sale price

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Month: December 2018 Toronto downtown is gaining from ‘Hyper-concentration’ of knowledge jobs in a permanent shift

  A fundamental economic shift is Toronto downtown is gaining from ‘Hyper-concentration’ of knowledge jobs in a permanent shift as traditional manufacturing employment evaporates across much of southern Ontario, a new report warns, and the trend has major ramifications for public transit and land-use planning.   The study, released days after General Motors announced the shutdown of its assembly plant in Oshawa, Ont., says the lopsided job growth is a permanent change, not a cyclical pattern. It warns Toronto’s transit system will be placed under further strain. The report also argues smaller communities outside the city should seek to attract the

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Month: December 2018 New Rent control rules could mark return to sky-high rent increases for Toronto tenants

Toronto housing   New Rent control rules   With new Rent control rules and the province of Ontario scrapping rent control for new units across Ontario as of November 15, 2018, affordable housing advocates are warning that the changes could mark a return to sky-high rent increases for thousands of Toronto tenants.   The Progressive Conservative government revealed the details on November 15, 2018 through the fall economic statement, announcing legislation which ends rent control for all newly-built or newly-converted rental units going forward — while maintaining rent control for current tenants — as part of a new Housing Supply Action Plan.  

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