logo
NEWS AUGUST 2016
Main Page
Buying Home
Selling Home
Invest
News
Listings
School
 
 
       
  TORONTO, August 4, 2016 .
TREB reported 9,989 residential transactions. At just shy of 10,000 transactions, this was the best result on record for the month of July.

Average price by major home type.
  416 905
Detached $1,202 ,753 $888, 565
Semi-Detached $855,881 $588,947
Townhouse $584,693 $521,584
Condo $427,074 $358,291
     
"Unfortunately, listings for single-detached and semi-detached houses and town houses continue to be in short supply. The result has been an increase in pent-up demand and annual rates of price increases well above the rate of inflation. Housing policy is now top of mind for all levels of government. Policy makers need to be focusing on solutions to the sustained lack of low-rise inventory throughout the GTA,” said Mr. Cerqua.
     
  Strong Home improvement spending boosts 2016 Q2 consumer activity

Figures released by Moneris on Tuesday (July 19) revealed that the strong home improvement segment played a major role in boosting credit-fuelled consumer activity on the second quarter of the year.
It’s a safe investment for a lot of consumers, investing in homes and continuing to improve upon them is a good place to put your money.
Q2 2016 saw double-digit rises in sales volumes among Canadian housing supply chain retailers, such as 13.09 per cent in home furnishing and 10.32 per cent in floor covering. As a whole, consumer spending grew by 5.53 per cent in that period.
     
  GTA new home supply just 10% of what it was compared to 2006

Building Industry and Land Development Association (BILD) noted that the availability of new homes in Toronto has declined to just a tenth of what it was compared to 2006..

Supply in the GTA dwindled to just a little over a thousand homes in June 2016 compared to 10,823 a decade ago. This sharp drop accompanied an unprecedented growth in prices in every type of residential real estate

“Demand for ground-related homes is far outpacing supply, with some projects selling out just hours after launching,” BILD vice president of marketing and communications Michelle Noble said. “The price of low-rise homes has grown exponentially as supply has dropped.” According to BILD, the average cost of low-rises—which include semi-detached properties, town houses, and row houses—reached $887,543 last month, far above the levels seen in 2015 ($785,800) and in 2006 ($393,398).
 
  Toronto’s hottest real estate

Homes north of Danforth Ave. and east of the Don has the shortest sale times in Toronto, homes averaging a mere 12 days on the market compared to a city-wide average of 21 days.

In 2015, homes typically spent 21 days on the market, down 10 days from 2005 when they took a full month to sell. It’s a trend that has touched almost every corner of the city.

Over the past ten years, the median value of homes north of the Danforth has increased 132 per cent, from $288,500 in 2005 to $608,500 in 2015.

Most of the bidders for the homes around Woodbine Ave. are first-time home buyers or young couples looking to upgrade from a condo. You can get the same amenities — access to the subway, schools and good restaurants — for about 10 per cent less than in the other places .
 
       
   
   

 

 

 

 

Konstantin Kichtchenko Sales Representative Accsell Realty Inc., Brokerage 416-477-2300 5155 Spectrum Way, Mississauga, Ont