Toronto Market Gains Strength In April

After a slow start to the year, hampered by a lingering and unpleasant winter, the Toronto area market kicked into a higher gear in April. Sales for the first three months of the year were very similar to 2018, but April sales of 9,042 houses and condos were 16% higher than last year. The number… Read More

Interest Rates Unlikely To Rise In 2019

The latest data from Statistics Canada shows that GDP has actually fallen in four of the past six months, suggesting that, after the longest (if one of the weakest) recoveries ever, we are heading toward a recession within the next year or so. Click to view monthly GDP chart This is why the Bank of… Read More

Canada Is A Haven For Money Laundering

There’s a lot of ‘dirty money’ in the world, and many complex schemes to ‘launder’ this money and convert it into ‘clean’ funds. Real estate is a very popular venue for such laundering, particularly in Canada, as we have some of the weakest laws in the world to defend against money laundering. A recent report… Read More

Steady Toronto Area Market Persists

Prices and sales increased modestly in March as compared with February, in line with the normal seasonal trend, and continued to track year-ago results very closely. For condominium properties, prices were 2% higher than last year, while prices for freehold properties were 2% lower, so the overall average for all property types was virtually unchanged…. Read More

Trends Cost Sellers Money

Every new and widely-adopted trend changes what’s considered “standard.” When this happens in real estate — inside or out — a seller’s non-trend or off-trend house or condominium unit may become “substandard” in buyers’ eyes. Sellers who expect top dollar for their property must ensure it makes an on-trend impression with homebuyers, especially millennials. In… Read More

First-Time Home Buyer Incentive – Will It Help?

The federal budget included a proposed measure that would see the federal government take on part of the costs of buying a home. The basic elements of the plan are: It will be available only to first-time homebuyers; It will be administered by CMHC and will only be available for CMHC-insured mortgages; Buyers must have… Read More

Toronto Considering Land Transfer Tax Increase

In early 2007, the City of Toronto instituted a Toronto Land Transfer Tax (on top of the Ontario Land Transfer Tax) as a way to increase revenues while avoiding large (and politically unpopular) increases in property taxes or decreases in expenses. This tax applies only to properties in the “Old Toronto” 416 area code. For… Read More

Toronto Condo Market Continues to Soar

Toronto area condominium apartment prices continued to move upward last month, with average prices 6% higher than February, 2018. Almost certainly we will see another all-time high for condominium prices before the spring is over. Under-pricing and bidding wars are rampant and buyers are eager (even desperate) to buy condos now before prices go even… Read More

I Want To Sell My Home – How Much Work Should I Do?

Getting Your Home Ready to Sell

You’ve started looking for a new house, and you’ve seen a couple that you like. Your present house has served you well, but the last major renovations were done almost 20 years ago. How much work should you do to get the house ready to put on the market as soon as you buy the… Read More

Torontonians Say The City Isn’t Doing Enough To Increase The Supply Of Housing

In a recent survey, Forum Research found that 69% of Toronto residents feel that the City should be doing more to increase the supply of rental housing across the city. As previously reported, there is a rental housing crisis in Toronto due to the influx of new residents, declining affordability (forcing would-be buyers to rent),… Read More