Homes sales across the Greater Toronto Area (GTA) saw a steep decline in February, when compared to the same time last year. According to the Toronto Real Estate Board’s (TREB) latest report released earlier today, figures show there were only 5,175 residential transactions reported through TREB’s MLS® System in February 2018, this number was down […]
On Tuesday, Finance Minister Bill Morneau released the 2018 Federal Budget, which some believe did little to address concerns about Ontario and B.C.’s overheated housing market. One of the biggest issues remaining for Toronto and Vancouver residents is the lack of affordable housing. There were many who expected additional initiatives to be put forward by […]
Last April, the Province of Ontario passed Bill 127, a legislation that allows municipalities to collect a municipal transient accommodation sales tax (MAT). The tax, which will be set at the rate of 4%, will apply to hotels, motels, short-term rentals such as AirBnB, and other bed and breakfasts. The hotel tax, effective April 2018, […]
On Monday, Toronto city council passed an $11.12 billion operating budget, which includes a 2.1% increase in residential property tax. Residents, however, will have to pay an additional 0.5% for the city’s build fund (which supports infrastructure projects) as well as an extra 0.31% towards the enhancement of Toronto’s business climate and reassessment impact, totalling […]
Last Wednesday, The Bank of Canada raised its benchmark interest rate to 1.25 percent, the third interest rate hike over the past year, and the highest level since the global financial crisis in 2008. According to the official press statement released by Bank of Canada, “the economy is operating roughly at capacity, with inflation being […]
