iListRealEstate Toronto Real Estate Blog

Analysts are expecting the hike to be .25% to 4.5%. This is expected to be the last rate hike of the year. Fixed rates have balanced off. You can get a fixed rate mortgage for as low as 4.59% on a purchase that is insured. The fixed rates are not that bad and with prices down by 15% to 20% in some markets buying with a 2 year mortgage and refinancing when rates go down again as they are expected too may be an option for many buyers and investors. If your a long term buyer now is definately a... [read more]

The Canada Mortgage and Housing Corp. has announced regulations for the ban on foreign homebuyers, which comes into effect on Jan. 1. Starting in the new year, foreign commercial enterprises and people will be prohibited from purchasing residential properties in Canada for two years. The ban, which was passed by Parliament on June 23, aims to address housing affordability challenges. There are some exceptions, including for those with temporary work permits, refugee claimants and... [read more]

Commercial Network Members reported 5,109,603 square feet of leased space through TRREB's MLS® System in Q3 2022 for all lease transaction types across the industrial, commercial/ retail and office market segments. This result represented a one per cent decrease compared to Q3 2021. Year-over-year changes in average per square foot net lease rates, for transactions with pricing disclosed, were up or remained steady across all three market segments. The average industrial lease rate for... [read more]

The Bank of Canada hiked its benchmark overnight rate by 50 basis points on Wednesday, its seventh consecutive increase, as the bank signals its aggressive tightening cycle may be coming to a close. Wednesday’s increase brings the key rate to 4.25 per cent, the highest level since 2008. A slim majority of economists had expected a 50 basis point increase, according to Bloomberg, while markets had already priced in a 25 basis point hike. Canada’s central bank has sharply hiked... [read more]

TRREB Releases 2022 Q3 Condo Market Statistics TORONTO, ONTARIO, October 27, 2022 – Following the ownership market as a whole, Q3 2022 condominium apartment sales were off by approximately 46 per cent compared to Q3 2021. Despite there being substantially more balance in the market in the third quarter relative to a year earlier, the average selling price was up year-over-year, albeit by less than the current pace of inflation. There were 4,177 condo apartment sales reported through... [read more]

Double-digit year-over-year rent increases continued to be the norm in Q3 2022. With many would-be first-time buyers temporarily on the sidelines in the Greater Toronto Area (GTA), due to higher borrowing costs, rental demand has remained strong in the face of falling supply. Competition for condo rentals has intensified as a result and negotiated rents have increased dramatically. There were 13,366 condo apartment rental transactions reported through the Toronto Regional Real Estate Board... [read more]

Homeownership market activity in November continued to be influenced by the impact of higher borrowing costs on affordability. Sales were down markedly compared to the same period last year, following the trend that unfolded since the commencement of interest rate hikes in the spring. New listings were also down substantially from last year, and at a very low level historically. The fact that the supply of homes for sale has remained low, has supported average selling prices at the $1.08 to... [read more]

  There were 5,627 home sales reported through the Toronto Regional Real Estate Board’s MLS® System in August 2022, representing a year over-year dip of 34.2 per cent – a lesser annual rate of decline compared to the previous four months. The August sales result also represented a month-over-month increase compared to July. Sales represented a higher share of new listings compared to the previous three months. If this trend continues, it could indicate some... [read more]