Real Estate in the News

Posted by:

This week’s top real estate news in Ontario and how your real estate business could be affected.

Toronto mayor not in a hurry to decide about intervention in housing
Toronto’s mayor said that the city government in not in a rush to decide about intervention in the red-hot housing market’s situation. Also read “This is the main driver of Toronto and Vancouver home prices (and it’s not foreign investment)“.

Here’s where Toronto detached home prices are rising fastest
The average price of a Toronto detached home in the first six months of 2016 hit $1,230,340, up by 10 per cent or more in 90 per cent of the city’s neighbourhoods when compared to the same period last year.

GTA condo sales surge 17.4 per cent: TREB
In Q2 2016, the average selling price of a condominium apartment was $415,326, which is a 7.1 per cent increase from prices one year ago. The MLS Home Price Index apartment benchmark price increased by 7.9 per cent by the end of the second quarter.

Don’t Even Think About Taxing Foreign Buyers In Toronto
“Housing affordability concerns all of us who live in the region,” says the Real Estate Board of Greater Vancouver. “Implementing a new real estate tax, however, with just eight days’ notice and no consultation with the professionals who serve home buyers and sellers every day needlessly injects uncertainty into the market.” Silver foresees similar challenges in Toronto, should a foreign buyers’ tax be implemented there. “Knee-jerk” is also how the realty industry in Vancouver feels about the B.C. government’s action.

TREB wins extension days before deadline to publish home sales data online
Judge Mary J.L. Gleason made the order on Wednesday, days before TREB’s Aug. 3 deadline to make sales figures, pending sales and broker commissions more widely available.

Stay up-to-date with all real estate news updated continually on our Facebook page.

Upcoming Realty Point Seminars

  • FINTRAC Training has been scheduled for several dates and locations. This is mandatory training for all brokerages and agents.
    Please visit the seminar page to register.

More information about upcoming seminars and to register visit this page.

Please forward or share these news articles with people you know will appreciate them.