More than 1.4 million boomers across Canada expect to buy a home in the next five years 56 per cent of boomers consider their local housing market unaffordable for retirement 9 per cent of boomer parents do not expect their kids to move out until after the age of 35 32 per cent of boomers looking to buy in the next five years most likely to purchase a condo The Royal LePage Boomer Trends Survey, released today, found that 17 per cent of Canadian baby boomers (born between 1946-1964) are planning to purchase a new home in the next five ...
Boomers in Ontario are the most likely in Canada to consider downsizing as they approach retirement
August 14, 2018
Prices & Sales Continue To Rise in July Across the GTA
August 8, 2018
Toronto Real Estate Board President Garry Bhaura announced strong growth in the number of home sales and the average selling price reported by Greater Toronto Area REALTORS® in July 2018. “Home sales result in substantial spin-off benefits to the economy, so the positive results over the last two months are encouraging. However, no one will argue that housing supply remains an issue. The new provincial government and candidates for the upcoming municipal elections need to concentrate on policies focused on enhancing the supply of housing and reducing the upfront tax burden represented by land transfer taxes, province-wide and additionally in ...
Average Condo Price Continues to Climb in Q2 '18
July 18, 2018
Toronto Real Estate Board President Garry Bhaura announced that the average selling price for condominium apartments sold through TREB’s MLS® System in the second quarter of 2018 was up by 5.4 per cent year-over-year to $561,338. The highest average selling price was in the City of Toronto, at $603,480 – up 6.5 per cent compared to Q2 2017. “Condominium apartments have outperformed other housing types over the past year, in terms of price growth. It has been a seller’s market in many neighbourhoods for this home type, which is why we have continued to report average price growth more than ...
Greater Toronto Area (GTA) expected to post third quarter price gains after price declines in the second quarter
July 17, 2018
The Greater Toronto Area Real Estate Market Posts Price Declines in Second Quarter of 2018 Home prices in the GTA forecast to increase 2.1% in the next three months According to the Royal LePage House Price Survey1 and Market Survey Forecast released today, sales activity and price appreciation across the Greater Toronto Area (GTA) continued to slow in the second quarter of 2018, compared to the heightened pace witnessed during the same time last year. Most notably, Markham and Richmond Hill saw home values depreciate 8.8 per cent and 12.4 per cent, respectively. During the second quarter, the aggregate price ...
Prices & Sales up in June Across the GTA
July 9, 2018
Toronto Real Estate Board President Garry Bhaura, in his first market release as TREB President, is pleased to announce some positive signs with respect to the housing market. Greater Toronto Area REALTORS® reported 8,082 home sales through TREB’s MLS® System in June 2018 – up 2.4 per cent compared to the low June 2017 result. After preliminary seasonal adjustment, sales were also up 17.6 per cent on a monthly basis between May 2018 and June 2018, continuing the trend of somewhat volatile month-over-month changes over the past year as home buyers reacted to various policy changes impacting the market. “Home ...
Market conditions tighten across Greater Toronto
June 6, 2018
Greater Toronto Area REALTORS® reported 7,834 sales through TREB’s MLS® System in May 2018. This result was down by 22.2 per cent compared to May 2017. While the number of sales was down year-over-year, the annual rate of decline was less than reported in February, March and April, when sales were down by more than 30 per cent. On a month-over-month basis, seasonally adjusted May sales were basically flat compared to April. Supply of homes available for sale continued to be an issue. New listings were down by 26.2 per cent. The fact that new listings were down by more ...
Ontario’s New Standard Lease – Use it or lose it.
May 8, 2018
Courtesy of: John Zinati, B.A., L.L.B. - Zinati Kay, Barristers & Solicitors As you may have heard, as part of its reform of the Residential Tenancy Laws, the Government of Ontario has passed a law requiring all leases to be on a Standard Form Lease Agreement (“Standard Lease”). Fortunately, the requirement is not retroactive and does not automatically invalidate OREA or other Lease forms, but there are consequences to be aware of. This issue of Title Tips will explain what this means to you and go over some other changes to Residential Tenancy Laws that you should be aware of ...
Real Estate Buying Habits Starting To Change Across The GTA
May 4, 2018
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,792 sales through TREB’s MLS® System in April 2018. The average selling price was $804,584. On a year-over-year basis, sales were down by 32.1 per cent and the average selling price was down by 12.4 per cent. The year-over-year change in the overall average selling price has been impacted by both changes in market conditions as well as changes in the type and price point of homes being purchased. This is especially clear at the higher end of the market. Detached home sales for $2 million ...
The Greater Toronto Area Real Estate Market Slows in the First Quarter of 2018
April 13, 2018
Condominium price appreciation continues to outpace all other housing categories Baby boomers downsize to help their children afford a home According to the Royal LePage House Price Survey released today, sales activity and price appreciation across the Greater Toronto Area continued to slow in the first quarter of 2018 compared to the heightened pace witnessed during the same time last year. All housing segments studied depreciated on a quarter-over-quarter basis, especially in areas such as Richmond Hill, Markham and Pickering where appreciation was strongest a year ago. During the quarter, the aggregate price of a home in the Greater Toronto ...
Greater Toronto Real Estate Market Still Sluggish in March
April 4, 2018
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,228 residential transactions through TREB’s MLS® System in March 2018. This result was down by 39.5 per cent compared to a record 11,954 sales reported in March 2017 and down 17.6 per cent relative to average March sales for the previous 10 years. The number of new listings entered into TREB’s MLS® System totaled 14,866 – a 12.4 per cent decrease compared to March 2017 and a three per cent decrease compared to the average for the previous 10 years. “TREB stated in its recent Market ...