Market Update for January 21
Doug Ford dropped rent control on new units in 2018. Since then, thousands have come online and tenants facing double-digit increases ask: was it worth it? In 2018, the Ontario government introduced legislation that scrapped rent control on new builds. So, if you move...
Market Update for January 7th
December capped off a record year for real estate in the Greater Toronto Area — both in sales and price. According to the Toronto Regional Real Estate Board, 121,712 sales were reported through its MLS® System in 2021 — up an astounding 28% from 2020 which was a hot...
Market Update for December 17
So, what do we see in our crystal ball for real estate next year? The Canadian Real Estate Association says housing sales will moderate next year, but prices aren’t expected to ease any time soon. The association said in its 2022 forecast released on Wednesday that it...
Market Update For December 10
Canada’s Gen Z shows surprising optimism when it comes to owning a home according to a new survey out of Vancouver. Gen Z (born 1997- 2012) is all too aware of pressing affordability challenges in major Canadian cities, notably Toronto and Vancouver. The survey...
Market Update for November 19
After a battle between the city and province that's lasted for decades, Toronto will soon require developers to build affordable units in new condo buildings in an attempt to add thousands of homes below market value in the coming years. Councillors voted 23 to 2 to...
Market Update for November 12
Canadians are scrambling to get mortgage pre-approvals and rate holds before the era of low interest rates comes to an end, as some economists predict. Real estate and mortgage brokers say their clients are increasingly seeking ways to hold on to current rates because...
Market Update for November 5th
Prospective homebuyers in the Greater Toronto Area found dramatically fewer homes on the market last month than they did a year ago. October was another record setting month for Toronto and the GTA with the average year-over-year selling price up 19.3% to $1,155,345....
Market Update for October 29th
Investors who own multiple properties within the city, has in recent years overtaken first-time homebuyers as the biggest slice of Toronto’s home-purchasing market, according to a recent report by Teranet. As recently as 2016, Teranet — Ontario’s title search and...
Market Update for October 8th
September marked the transition from the slower summer market to the busier fall market in the Greater Toronto Area (GTA). Every year, we generally see an uptick in sales, average selling price and listings after Labour Day, and September was no different. Sales...
Market Update for October 1st
Canadians are changing provinces at the fastest rate since the 90’s real estate bubble. Canadians haven’t fled their province in such a large volume in over three decades. Interprovincial migration reached 123,500 people in Q2 2021. This is an increase of 55.1% from...