Category: Toronto Mortgage Posts

Category: Toronto Mortgage Posts New Rent control rules may bring back sky-high rent increases for Toronto condo tenants

            New Rent control rules may bring back sky-high rent increases for Toronto condo tenants   With new Rent control rules and the province of Ontario scrapping rent control for new units across Ontario as of November 15, 2018, affordable housing advocates are warning that the changes could mark a return to sky-high rent increases for thousands of Toronto tenants.   The Progressive Conservative government revealed the details on November 15, 2018 through the fall economic statement, announcing legislation which ends rent control for all newly-built or newly-converted rental units going forward — while maintaining rent control

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Category: Toronto Mortgage Posts TREB Announced January, 2019 Market Stats

  cond TREB Announced January, 2019 Market Stats   TREB President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary seasonally adjusted basis, sales were up by 3.4 per cent compared to December, 2018. “It is encouraging to see the slight increase in January transactions on a year-over-year basis, even with the inclement weather experienced in the GTA region during the last week of the month. The fact that the number of transactions edged upwards is in line

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Category: Toronto Mortgage Posts Toronto condo market price growth expected to slow down in 2019

          In the real estate obsessed Toronto region, 2018 was the year of the condo — again. Condo prices have been rising for the past three (3) years. The conditions that made it tougher to buy a house this year — tighter mortgage qualification rules, higher interest rates — contributed to strong demand for condos, which have emerged as the default first home choice and the obvious housing for the workforce that has flocked into  and some of the 905-area municipalities.   New construction condo prices (the category also includes stacked town homes) were up 12

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Category: Toronto Mortgage Posts Toronto condo buyer could buy old condo for higher return in 2019

            Toronto condo buyer could buy old condo for higher return in the condo market in 2019.   What’s the best Toronto-area condominium investment you could have made in the past five years? Maybe a sweet deal on a presale that could be worth a lot more when it’s finally finished or perhaps you’re betting a brand new penthouse on King West is going to go up and up in value.   According to data compiled by Urbanation Inc., the best increases in valuation across condo land since 2012 were all in complexes built before

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Category: Toronto Mortgage Posts Toronto condo rent hikes may slow in 2019 with more condo units available for rent in 2019

              The average rent for a one-bedroom condo in the Toronto region has surpassed $2,000 for the first time, hitting $2,056 in the third quarter of 2018, according to market research firm Urbanation.   Mr. Hildebrand, President, said he expects rents to moderate going into 2019 as more apartments and condos become available. But in the short-term the demand from a growing population and consumers shut out of the home ownership market continue to outstrip the supply for rentals and push up the cost of leasing. “It isn’t a coincidence that rents and (home)

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Category: Toronto Mortgage Posts Toronto Condo market set to level off in 2019

            The Toronto condo market is set to level off in the first quarter of 2018, but not before the average downtown price per square foot crosses the $1,000 threshold for pre-construction units, says Shaun Hildebrand, senior vice-president of real estate market research firm Urbanation.   Unsold condo inventory has already reached an average of $991 per sq. ft. and the average selling price for all new projects that were launched in the City of Toronto in the third quarter was $951 per sq. ft., he said. “I don’t think it will be long before

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Category: Toronto Mortgage Posts Toronto’s sizzling condo market slows down in 1st quarter, 2018

            Toronto’s heated condo market looses some steam due to the growing development costs and some of the condo project cancellations. They have produced some caution into Toronto’s hot condo market, and with more project terminations likely yet to come, comments Urbanation, the development research company. Urbanation found that new Toronto condo launch prices went up 23 per cent year over year at the end of the 1st quarter, 2018. Even with a really large number of condo development projects that were launched in 2017, about 53 condo developments projects with nearly 14,000 units that still had

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Category: Toronto Mortgage Posts Owning or Renting Condo Apartments or Homes In Toronto

            Owning or Renting Condo Apartments or Homes In Toronto Max Seal, Broker’s Comments: In Toronto as of now, we are in April, 2018. The question of “Owning or Renting Condo Apartments or Homes In Toronto” is a subjective one and the merits an demerits vary greatly between the prospective home buyers and the home or apartment renters and their individual family and financial circumstances. Here are some of the facts in Toronto real estate market as of April, 2018:   For the Toronto Home or Condo Buyers:   Owning or Renting Condo Apartments In

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Category: Toronto Mortgage Posts Toronto condo prices up but home prices down in August, 2017

          The Realtors and the Economists are finding a return to normal in Toronto’s housing market. A fourth consecutive month-to-month decline in median house prices has continued while condo prices are still going up. The Toronto Real Estate Board( TREB) reported that the average cost of a home in August — $732,292 (including all residence types and condos) — was still up 3 per cent or about $20,000 to August 2016. But that is still down about 20 per cent, or $187,000 lower than April, 2017, when the average cost peaked at $919,086. The number of

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