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Canadian newcomers represent 1 out of every 5 homebuyers

Wednesday Nov 6th, 2019

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Toronto Real Estate

According to a new survey commissioned by Royal LePage, newcomers represent one in every five homebuyers (21 per cent) in Canada. If the current international migration level is maintained, newcomers are expected to purchase 680,000 homes over the next five years. "In addition to supporting Canada's economic growth, newcomers to Canada are vital to the health of our national real estate market," said Phil Soper, president and CEO of Royal LePage. "The combined demand for... [read more]

3 Toronto condo market trends to watch in 2020

Wednesday Nov 6th, 2019

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Toronto Real Estate

Much ink has already been spilled over the rebound in housing that's underway in some of Canada's largest markets. After a volatile 2018 and an exceptionally brutal winter, home sales began to recover, particularly in the Toronto and Vancouver regions. The country's all-seeing housing eye, the Canada Mortgage and Housing Corporation (CMHC), recently published it's optimistic 2020-2021 market outlook. The organization famously predicted that 2019 would be one of the worst... [read more]

Toronto Home Sales Surge 10%, Narrowing Affordable Options For Buyers

Thursday Jul 25th, 2019

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Toronto Real Estate

Toronto home sales jumped again in June, nudging prices higher and narrowing affordable options for buyers. A total of 8,860 homes changed hands in Canada's biggest city in the month, up 10% from the same month a year earlier, the Toronto Real Estate Board reported Thursday. New listings fell 0.4% to 15,816 leading to increased competition between buyers and price increases across certain segments. Benchmark prices, which adjusts for the type of housing sold, rose 3.6% to $798,500... [read more]

Toronto Is The No. 1 City Canadians Want To Move To For Real Estate

Thursday Jul 25th, 2019

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Toronto Real Estate

If you thought Toronto's high home prices would prevent people from moving to the city, think again. According to a new survey, Toronto is the most desirable city to move to for real estate. The survey was conducted by personal finance comparison site Finder. Based on a poll of 1,200 Canadian adults, Finder found that 54% are willing to move to another city to own a home. Although that's a small majority, the stat proves the Canadian dream of home ownership isn't dead after... [read more]

Toronto home prices to creep close to 2017 all-time highs in 2019

Wednesday Apr 3rd, 2019

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Toronto Real Estate

The Toronto housing market is poised to nearly reach peaks obtained in 2017, the hottest year on record for residential real estate in Canada's biggest city. This sums up the year-end forecast from TREB. The board anticipates home sales this year will clock in at 83,000 units - surpassing last year's tally - while the average price soars to $820,000, just shy of the all-time high in 2017. "Price increases will be driven by the average condominium apartment price growth in the... [read more]

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