Alex  Lui

Alex Lui

Sales Representative

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Ahead of the press to read the summary of new survey results from TREB

JANUARY 31, 2017 – The Toronto Real Estate Board will release
its annual Market Year in Review & Outlook Report today at its Economic Summit being held at 
Toronto’s Parkview Manor.

The report provides a look forward into the 2017 housing market and tackles top-of-mind issues, 
including consumer intentions, foreign buying activity in the Greater Toronto Area, impact of 
transportation infrastructure on housing affordability, and the lack of housing supply.

Condos 2016 Q4 update

On January 26, 2017 Toronto Real Estate Board President Larry Cerqua announced that condominium apartment sales reported by Greater Toronto REALTORS® in the fourth quarter of 2016 were up by 22.3 per cent year-over-year to 6,831. Over the same period of time, new listings were down by 13.4 per cent.  The average one-bedroom condo apartment rent was $1,776, representing an annual increase of 7.4 per cent compared to the fourth quarter of 2015. Over the same
period, two-bedroom rents increased by eight per cent to $2,415.

New Ontario Land Transfer Tax Rebate - effective Jan. 1, 2017

First-time home buyers are now eligible to get $4,000 off the Canadian dream and we need your help to help spread the word.

New Ontario LTT Rebate

Effective January 1st, 2017, Ontario has doubled the land transfer tax rebate for first-time home buyers from $2,000 to $4,000. That means that a first-time home buyer will pay no provincial tax on homes sold for $368,000 or less.

Ontario REALTORS® lobbied hard for the improved rebate and we're very proud to promote it to first-time buyers.

Record Sales in 2016

On January 5, 2017,Toronto Real Estate Board President Larry Cerqua announced that 2016 was a second consecutive record year for home sales. Greater Toronto Area REALTORS® reported 113,133 home sales through TREB’s MLS® System – up by 11.8 per cent compared to 2015. The calendar year 2016 result included 5,338 sales in December – an annual increase of 8.6 per cent.

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