Toronto Housing Action Plan
The city reaffirms its commitment to deliver more housing supply, choice and affordability for current and future residents.
2022 Toronto Income Property Market Wrap-up – January to December
An in-depth analysis of sales data in key Toronto neighboorhoods before and after the interest rate increases
Ford & Tory’s New Housing Initiatives
Provincial & Municipal Governments adopt aggressive new policies to stimulate housing growth
Foreign Buyers Moratorium on Residential Real Estate
Ottawa creates a 2 year program to try and stem the tide of out-of-country buyers
2022 Toronto Income Property Market Wrap-up (Jan to Jun)
As we have just passed the midway point of the year, it is interesting to look at key areas of the city and see how the income property market has been performing so far this year. As the market turns away from favoring Sellers, we expect these numbers to decline in the second half of…
Garden Suites A Go Again in Toronto
Recently the Ontario Land Tribunal dismissed an appeal from a handful of Toronto neighbourhood associations that had temporarily put on hold the garden suites program brought in by the City of Toronto back on February 2nd. This program, along with the laneway housing initiative, was introduced to try and help the current housing shortage in…
Second Suite Bylaw Information
Adding a second unit in your principal residence is a great way to provide independent living space for a family member or make a little extra money to help pay off the mortgage. There are many things you need to consider as you decide whether to build a second unit. You are permitted to add…
Some Toronto Residents Against Garden Suite Program
In my last newsletter I wrote about how Toronto City Council has announced a program to allow residents to build garden suites on residential properties in the city. This measure was enacted to help with the current housing crisis, thereby bringing more potential dwelling units to market. Just to reiterate, a garden suite is defined…
Federal Budget 2022 Addresses Housing Concerns
The recently released federal budget has addressed several housing issues that have been plaguing Canadians from coast to coast. Here’s a summary of the initiatives intended to make owning a house in Canada more accessible and affordable: 1. Budget 2022 proposes to introduce the Tax-Free First Home Savings Account that would give prospective first-time home…
What is an Acceptable Cap Rate These Days?
There was a time that investors wouldn’t dream of buying an income property unless it was a five cap. Nowadays that number can drop to under three. My clients who buy duplexes and triplexes for investment only (not to live in), often ask me what is an acceptable cap rate in the City of Toronto…
Toronto City Council Introduces Garden Suite Program
Toronto City Council has released a press release announcing a program to allow residents to build garden suites on residential properties in the city: A garden suite is defined as a housing unit, usually located in the backyard of an existing house, but separate and detached from the main house. Garden suites, like laneway suites,…
Royal LePage predicts that GTA home prices will rise 11% in 2022
Royal LePage announced last month that the aggregate price of a home in the Greater Toronto Area increased by 17.3 per cent in 2021 to $1,119,800 as demand continued to outpace supply. It expects that in 2022 prices in the GTA will rise by another 11 per cent, with the aggregate home price reaching $1,243,000…