Home prices across the country have increased, especially in popular urban areas such as Toronto and Vancouver. Many Canadians have felt they have either been completely priced out of the market, or have to settle for a home vastly cheaper than their dream home. It seems many prospective homebuyers are becoming fed up with the […]
Announcements
February Home Sales Dropped 35% in the GTA
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 […]
Announcements
Federal Budget 2018: Is Too Little Being Done For The Housing Market
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 […]
City
Is Multi-Generational Living..The New Way of Living?
Multi-generation households, or in other words, households that include at least three different generations, are the fastest growing type of home in Canada. A few of the factors contributing to this rise are: increasingly high single dwelling housing costs, vast migration to dense urban areas, young adults living at home longer, and an ageing population […]
Announcements
City of Mississauga Approves 4% Hotel Tax
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, […]
City
Toronto’s Housing Market Is Driving Young People Out of The City
Toronto’s housing climate is becoming simply unrealistic for many individuals. Young Torontonians and new entrants to the job market are faced with skyrocketing rental prices and high costs of living. Average rent prices for a one-bedroom hit $2,020 this year, making Toronto the most expensive city in Canada to rent. According to LowestRates.ca, the average […]
Announcements
2.9% Increase on Residential Property Tax
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 […]
City
The New Age Of YIMBY-ism
The rise of the ‘YIMBY’ movement is becoming increasingly prominent as more millennials are making their voice heard. In contrast to the well-known NIMBY (Not In My Backyard) movement, which categorizes those who oppose development projects that take place in their neighbourhood, YIMBY (YES In My Backyard) supports those development projects. In the eyes of […]
City
Toronto Homes Sales Plunge 22%
It was a rough month for Toronto home sales, which saw a 22% downfall to 4,019 units sold in comparison to year prior, which was sitting at a record setting 5,155 sales. The Toronto Real Estate Board (TREB) released data earlier this week, stating this was the weakest month of sales for January since 2009. […]
City
TREB Predicts Housing Market Will Remain Flat in 2018
Following a couple hot years, Toronto’s housing market is expected to slow down in 2018. The Toronto Real Estate Board (TREB) released its annual forecast last Tuesday, predicting the number of home sales will remain flat or potentially drop this year. According to the forecast, in 2016 the number of residential sales in Toronto reached […]
City
Toronto Rental Rates Soar. Most Expensive City To Rent In Canada.
Toronto rental rates are on the rise, surpassing Vancouver as the most expensive city to rent in Canada. New condominium developments have been going up around the city but so have the prices, making finding a home ever-more difficult. According to the January 2018 Canadian Rent Report by Padmapper, a rental data website, a one-bedroom […]