A Toronto Home Builds A Great Long Term Investment Did you know 98% of homeowners continue to say that their most recent home purchase was for them to live in rather than as an investment to rent out? A home is the only investment you can live in while it grows in value. Please check out this handy infograph below to discover more key statistics surrounding home ownership. TREB created this infograph as a resource to give you a better understanding of how a home is a sound, long-term investment, not only for buyers, but
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Category: Toronto News Posts TREB Released July, 2019 Resale Market Figures
TREB Released July, 2019 Resale Market Figures Toronto Real Estate Board (TREB) announced that Greater Toronto Area REALTORS® reported 8,595 sales through TREB’s MLS® System in July 2019. This result was up by 24.3 per cent compared to July 2018. On a month-over-month basis, sales were up by 5.1 per cent, after preliminary seasonal adjustment. New listings entered into TREB’s MLS® System in July 2019 were up by 3.7 per cent compared to July 2018 and by a much lesser annual rate than sales, With annual growth in sales far outstripping annual growth in new listings, market conditions clearly tightened compared to in
View Article...Category: Toronto News Posts Condo rents soften in downtown Toronto, Apartment vacancy rate is up
The number of newer rental apartments in the GTA that are empty and ready for new tenants is at its highest level since a leading real-estate consulting firm started keeping track in 2015. According to Urbanation’s survey of purpose-built apartments completed since 2005, the average vacancy rate rose from a low of 0.3 per cent in the second quarter of last year to 1.5 per cent in the second quarter of this year. The Toronto firm added that the “availability rate” — which includes vacant units as well as occupied units where the tenant has given
View Article...Category: Toronto News Posts Canada Shows Signs of Housing Bubble, Bloomberg Reports in 2019
Canada and New Zealand are the most vulnerable economies to a correction in house prices, with Australia and the U.K. also drawing concern, according to new research from Bloomberg Economics. Seeking to build a “housing bubble dashboard,” economist Niraj Shah studied ratios of house prices to rent and income as well as inflation-adjusted prices and household credit. The results showed that Canada and New Zealand seem to be on the most unsustainable path, with the cost of housing compared with wages the highest in the world in both countries. Australia, Norway, Sweden and the U.K. also raise
View Article...Category: Toronto News Posts TREB Released June, 2019 Resale Market Figures
Toronto Real Estate Board (TREB) announced that Greater Toronto Area REALTORS® reported 8,860 sales through TREB’s MLS® System in June 2019, representing a 10.4 per cent increase compared to June 2018. Over the same time period, total new listings remained at a similar level for the month of June, 2019 and active listings at month-end of June, 2019 were down by 5.7 per cent. Sales and new listings statistics for the first half of 2019 compared to first half of 2018 painted a similar story to that of June, 2019. Sales were up by 8.5 per cent, while
View Article...Category: Toronto News Posts In Toronto From Renting To Owning A Condo Is Becoming Harder
In Toronto From Renting To Owning A Condo Is Becoming Harder In Toronto From Renting To Owning A Condo Is Becoming Harder Runaway price growth for single-family homes is a thing of the past in Toronto and Vancouver today, thanks to rising interest rates and tougher mortgage rules. But with prices still high, buyers have turned to other options. Or really the one other option that exists in buying the condos. “Trouble is, this stronger demand for condos resulted in sharper price gains and affordability erosion,” Royal Bank of Canada economists Craig Wright and Robert
View Article...Category: Toronto News Posts Toronto is U.S. and Canada’s fastest-growing city, and that’s not good
Toronto is U.S. and Canada’s fastest-growing city, and that’s not good Torontonians could find themselves “doubling up” on housing with friends or relatives in the incoming years as the city’s breakneck population growth outstrips the supply of new housing, an urban planning expert is warning. In an analysis published online this week, researchers Frank Clayton and Eva Shi of Ryerson University’s Centre for Urban Research and Land Development found that Toronto is the fastest-growing city in the U.S. or Canada, and by a long shot. Toronto added more than 77,000 net new residents in one year
View Article...Category: Toronto News Posts TREB Released May, 2019 Resale Market Figures
TREB Released May, 2019 Resale Market Figuress Toronto Real Estate Board President announced that Greater Toronto Area REALTORS® reported 9,989 transactions through TREB’s MLS® System in May 2019. This result represented a substantial increase of 18.9 per cent over the 15-year low in May 2018, Please note that the result was still below the average for month of May sales for the previous ten years, which stands at almost 10,300. The year-over-year uptick in sales experienced so far in the second quarter of 2019 suggests that the share of likely home buyers in the Greater Toronto Area has
View Article...Category: Toronto News Posts Toronto opposes Ford’s new housing plan for lack of affordable housing, reduced revenue
Toronto opposes Ford’s new housing plan for lack of affordable housing, reduced revenue Toronto council has voted to oppose the provincial government’s new housing supply plan, with city staff and councillors citing concerns about reduced city revenue, less control over planning, and a lack of “tools” to mandate affordable units. The new plan, heading through the legislature as Bill 108, aims to tweak more than a dozen pieces of legislation to cut red tape, speed up housing approvals, and make housing “more affordable” for both would-be home-buyers and renters. But in a new report, chief city planner Gregg
View Article...Category: Toronto News Posts TREB Released April, 2019 Resale Market Figures
TREB Released April, 2019 Resale Market Figures TREB announced that the Greater Toronto Area REALTORS® reported a substantial year-over-year increase in home sales in April 2019. The number of residential transactions jumped by 16.8 per cent to 9,042 compared to 7,744 in April 2018. On a preliminary seasonally adjusted basis, sales were up 11.3 per cent compared to March 2019. New listings were also up year-over-year by eight per cent. However, the annual growth rate for new listings was much lower than that reported number for sales. This suggests that market conditions continued to tighten which points
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