Imagine if you could turn your rear garage into a rental suite to bring in a few extra dollars each month. Not only is your garage for your car, bike, or old stuff but it can also now be for people. In an effort to combat the current housing crisis, the City of Toronto does…
It has been very challenging for renters in Toronto to find places to live over the first six months of this year. Some are saying that the vacancy rate is at an all-time low. Experts suggest that the current rate may now be under 1% which means that 99% of all the spaces available for…
Toronto mayor John Tory is looking to combat the housing shortage in Toronto. His three-point plan is being implemented to try and create 40,000 new social housing units over the next twelve years. The plan unveiled is as follows: First, the city has identified 10 more sites where it owns land that can be redeveloped…
The Toronto real estate market has been plagued with a lack of supply for some time now. This had led to a sellers’ market where there is often more than one bid on a property that is listed for sale. Multiple offers are commonplace and are often expected by sellers on many downtown properties.
The Toronto Real Estate Board (TREB) has just released the overall sales numbers for January 2019. There were 4,009 sales in January 2019, up 0.6% compared to January 2018.On a seasonally adjusted basis, sales were up 3.4% compared to December 2018. There was a total of 9,456 homes listed in January 2019, up 10.5% per cent year-over-year. The average selling price was $748,328. On a…
In an effort to deal with the alarming rental shortage, effective immediately Ontario Premier Doug Ford and the PC government has taken away rent controls on all new rental stock.
Where will consumers go to check how much things have sold for? The Toronto Real Estate Board has begun to make MLS sold data available to its members as per the Competition Tribunal ruling. It has been decided that consumers have a right to access historical sales data despite real estate boards trying to…
New Rules have not yet come into effect for short-term rentals in Toronto due to an impending appeal.
Is the Frenetic Toronto Housing Market finally starting to slow down? Multiple sources over the past few weeks have reported that bidding wars have slowed and traffic at open houses appears to be down across the GTA and Hamilton after the province introduced new measures to cool the red-hot real estate market. Just the news…
The following article has been generously provided to me to share by Simon Thang of Thang Tax Law.