Archive for April, 2017

Point-By-Point: Ontario’s Fair Housing Plan

Ontario's Fair Housing Plan: Point-By-Point Photo

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Today, Premier Kathleen Wynne finally announced changes to real estate in Ontario in an attempt to increase supply and address affordability.

No doubt, there’s going to be some confusion about the effects of the changes. Keep in mind though, the fundamentals of a healthy market have not changed.

Take a look at the plan below, point-by-point. If you’ve got any questions just give me a shout.

There are 16 proposed measures:

  1. A 15-per-cent non-resident speculation tax to be imposed on buyers in the Greater Golden Horseshoe area who are not citizens, permanent residents or Canadian corporations.
  2. Expanded rent control that will apply to all private rental units in Ontario, including those built after 1991, which are currently excluded.
  3. Updates to the Residential Tenancies Act to include a standard lease agreement, tighter provisions for “landlord’s own use” evictions, and technical changes to the Landlord-Tenant Board meant to make the process fairer, as well as other changes.
  4. A program to leverage the value of surplus provincial land assets across the province to develop a mix of market-price housing and affordable housing.
  5. Continue Reading »

March 2017 Market Stats: Infographic & Report

March 2017 Market Stats: Infographic & Report Photo

Following is TREB’s market report for March 2017:

Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 12,077 residential sales through TREB’s MLS® System in March 2017.

This result represented a 17.7 per cent increase compared to the 10,260 sales reported in March 2016.

For the TREB market area as a whole, annual sales growth was strongest for condominium apartments and detached houses.

The number of new listings also increased on a year-over-year basis, at 17,051 – a 15.2 per cent increase compared to March 2016.

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