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NEWS JULY 2016
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  TORONTO, July 6, 2016 .
TREB reported 12,794 residential transactions. This result was 7.5 per cent higher than the 11,905 sales reported in June 2015. In line with the prevailing trend so far this year, the number of new listings was down by 3.8 per cent.

Average price by major home type.
  416 905
Detached $1,259,486 $892,747
Semi-Detached $912,724 $581,770
Townhouse $635,164 $527,824
Condo $448,002 $359,308
     
“When TREB surveyed consumer intentions for 2016, we found that the majority of GTA households who were likely to purchase a home continued to be pointed towards some form of ground oriented housing. This is why we continue to see strong competition between buyers in many neighbourhoods where supply remains constrained,” said Jason Mercer, TREB’s Director of Market Analysis.
     
  Blame it on Brexit

Toronto and Vancouver are safe property havens now. London, for years one of the world’s leading targets of foreign capital, suddenly looks a lot riskier.
There is heightened demand from moneyed clients for homes and condos as well as office towers in two of Canada’s hottest real estate markets, which already have seen prices soar from an influx of foreign money. There’s a record $443 billion in global capital allocated to commercial property that wealthy investors haven’t deployed.
Foreign investors view Canada as an island of certainty.
     
  The end of Zoocasa

Zoocasa, the web-based real estate brokerage, has confirmed that it's closing its doors, the company has stated that it will cease to be registered and “will be prohibited from trading in real estate as a brokerage” as of June 22, 2015.

Zoocasa was launched as a brokerage in 2013, as a Rogers-affiliate. Previously, it had published listing data via real estate agents.

A representative from Rogers told : "Rogers has made the decision to no longer continue our investment in Zoocasa as the business is no longer a fit with our overall company plan, and core areas of focus. We will close down our website and mobile app effective June 22, 2015."
 
  The hottest ‘hood’ in Canada

Two Canadian neighbourhoods one in Toronto and other in Vancouver made the “Cool Streets Report,” signalling a lucrative opportunity for investors as young, upwardly mobile Millenials target these hotspots.
The definition of “cool” used in the report multi-faceted, but at their core, these neighbourhoods attract millennial urbanites who are – in many cases – helping to transform formerly rough neighbourhoods into sought-after places to live.
Toronto’s West Queen West
“On this stretch of QSW you will find Canada’s largest concentration of independent art galleries, an abundance of independent boutiques, a flourishing restaurant and bar scene, and a couple of new hipster, boutique hotels,” the report says. “And in West Queen West, rents typically range between $30 and $60 per sf compared to rates that can top the $120 per sf mark in the tonier sections of Queen Street West). But rents are only going to climb here. “Demand remains high for space in West Queen West and this Cool Street is increasingly demonstrating mainstream appeal.” Millenials make up 75.9% of the population on this stretch of street, and the average household income in $92,354.
 
       
   
   

 

 

 

 

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