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Ontario Introduces New Easy-to-Understand Standard Lease

Tuesday Feb 13th, 2018

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  New Mandatory Form Protects Tenants and Landlords   Ontario is introducing a new, simple standard lease that will be mandatory for private residential leases signed on or after April 30, 2018, including tenancies in single and semi-detached houses, apartment buildings, rented condominiums and secondary units (such as basement apartments). Currently there is no standardized form for rental agreements between landlords and tenants in Ontario. The new lease form... [read more]

February 2018 Toronto Real Estate Board Market Update

Friday Feb 09th, 2018

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GTA REALTORS® Release January Stats February 6, 2018  The Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 4,019 residential transactions through TREB's MLS® System in January 2018. This result was down by 22 per cent compared to a record 5,155 sales reported in January 2017. The number of new listings entered into TREB's MLS® System amounted to 8,585 – a 17.4 per cent increase compared to 7,314 new listings entered... [read more]

Toronto Condo Market a Strong Sellers Market

Saturday Feb 03rd, 2018

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The Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 5,773 condominium apartment sales through TREB’s MLS® System in the fourth quarter of 2017. This result was down by 15.4 per cent compared to the last three months of 2016. Over the same period, new condominium apartment listings were up by 9.8 per cent to 8,186. While sales were down relative to listings, market conditions still remained tight, with a sales-to-new listings ratio of 70 per cent.... [read more]

Scarborough-Guildwood getting new daycares at three schools

Saturday Feb 03rd, 2018

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MPP Mitzie Hunter says her Scarborough-Guildwood riding is getting 186 child-care spaces, thanks to provincial government investments. The new daycares will be built as additions to St. Barbara and St. Edmund Campion Catholic schools, and to Willow Park Junior Public School, but their respective school boards say no construction dates have been set. “By integrating more licensed child-care spaces into schools, we are building a stronger education system that supports students and... [read more]

Scarborough Retail Commercial Space with Fully Equipped Restaurant For Lease

Friday Feb 02nd, 2018

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Just Listed!    Fully Equipped Restaurant Bar in Prime Scarborough Location For Rent! Located in small strip plaza near Birchmount & Danforth Rd. 900 Sq feet on the main level and full basement with public washrooms & staff washroom. Includes use of hood fan, fryers, oven, cooler and all bar and restaurant equipment. Perfect Opportunity for experienced restauranter! $2800 per month plus utilities.   [read more]

The Toronto Real Estate Board Releases its Ecomonic Impact Report and Annual Review and Outlook for 2018

Friday Feb 02nd, 2018

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Economic Impact “On average, each residential transaction reported through TREB’s MLS® System in the GTA generates $68,275 in spin-off expenditures, according to recent analysis conducted by Altus Group. The real estate industry is a key contributor to our economy, with total annual spin-off expenditures close to $7 billion.  From the economic impact of TREB MLS® System transactions, to government revenues associated with residential sales, to the impact of the new... [read more]

Toronto Rents Moving Up and a Tighter Rental Market on the Horizon

Tuesday Jan 23rd, 2018

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Apartment rents climbed sharply in the Greater Toronto Area in 2017 as population growth and low supply pushed vacancy levels below 1 per cent. The Toronto Real Estate Board (TREB) said the average rent for a one-bedroom condominium apartment in the GTA climbed to $1,970 in the final quarter of last year, while rent for a two-bedroom condominium apartment rose 8.8 per cent to $2,627. TREB president said the demand for new rental accommodation is continuing to grow in Toronto as the... [read more]

How the New Mortgage Rules Will Affect Toronto Home Buyers

Monday Jan 22nd, 2018

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Starting Jan.1, home buyers faced a new challenge in addition to rising prices and a restricted supply of available homes — a mortgage stress test designed to cool the overheated housing markets. The test, introduced by the Office of the Superintendent of Financial Institutions (OFSI), requires the qualifying rate for an uninsured mortgage to be the greater of the Bank of Canada’s five-year benchmark rate (currently sitting at 4.99 per cent) or the rate homebuyers negotiate... [read more]

Rising Rates Unlikely to Affect The Toronto Housing Market

Thursday Jan 18th, 2018

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A booming Canadian economy has prompted the Bank of Canada to hike its lending rate a quarter of a point for the third time since last summer. In the near-term, it will likely mean some belt-tightening among those with variable rate mortgages and lines of credit, and with more increases expected, some consumers will be scrimping further as the year goes on. But the demand for housing in the Toronto region remains so strong that the higher mortgage rates aren’t expected to have a... [read more]

Toronto Real Estate Board Announces 2017 Sales Statistics

Sunday Jan 14th, 2018

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The Toronto Real Estate Board announced that Greater Toronto Area REALTORS® reported 92,394 sales through TREB’s MLS® System in 2017.  This total was down 18.3 per cent compared to the record set in 2016. Record sales in Q1 were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan (FHP) was announced.  The pace of sales picked up in Q4, as the impact of the FHP started to wane, and some buyers arguably brought forward their home purchase in... [read more]

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