Alex  Lui

Alex Lui

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Recovering But Slow Recovering - Sept 2018 TREB Sales Data

On October 3, 2018, Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 6,455 sales through TREB’s MLS® System in September 2018 – up 1.9 per cent compared to September 2017. The average selling price for September 2018 sales was up by 2.9 per cent over the same period to $796,786.

August 2018 TREB Sales Report

On September 6, 2018, Toronto Real Estate Board President Garry Bhaura announced sales and price increases on a year-over-year basis in August. Greater Toronto Area REALTORS® reported 6,839 sales through TREB’s MLS® System in August 2018 – an 8.5 per cent increase compared to August 2017.  Both the average selling price, at $765,270, and the MLS® Home Price Index Composite Benchmark for August 2018 were up compared to the same month in 2017, by 4.7 per cent and 1.5 per cent respectively.

My Two Cents On Sold Price Data Disclosure

On August 23, 2018, the Supreme Court has refused for an appeal from Toronto Real Estate Board in blocking the public publishing of sold property price.  What it means is that in about 60 days from now, the Order of the Tribunal will take effect unless modified that sold price data will become public knowledge.

Recovery On Track - GTA July 2018 Sales Data

On August 3, 2018, Toronto Real Estate Board President Garry Bhaura announced strong growth in the number of home sales and the average selling price reported by Greater Toronto Area  REALTORS® in July 2018.  “Home sales result in substantial spin-off benefits to the economy, so the positive results over the last two months are encouraging. However, no one will argue that housing supply remains an issue.

GTA Condo 2018 2nd Quarter data

On July 17, 2018 – Toronto Real Estate Board President Garry Bhaura announced that the average selling price for condominium apartments sold through TREB’s MLS® System in the second quarter of 2018 was up by 5.4 per cent year-over-year to $561,338.  The highest average selling price was in the City of Toronto, at $603,480 – up 6.5 per cent compared to Q2 2017.

Residential Rent Increase Guideline for 2019

On July 4, 2018 the Government of Ontario announced that residential rent increases between January 1 and December 31, 2019 will be capped at a maximum of 1.8%. 

As in previous years, any increase exceeding that amount must receive approval from the Landlord and Tenant Board. The annual provincial guideline applies to most rental units that fall under Ontario’s Residential Tenancies Act, but does not include: vacant units, social housing, or nursing homes.

Senior Homeowners Are Not Moving Out - Another Factor in Housing Shortage

I read this post and it's another factor to the housing shortage which has changed the real estate landscape as compare to the past trend.

Canadian Senior Homeowner Poll by HuffPost

June 2018 TREB GTA Sales Report

On July 5, 2018, Toronto Real Estate Board President Garry Bhaura, in his first market release as TREB President, is pleased to announce some positive signs with respect to the housing market. Greater Toronto Area REALTORS® reported 8,082 home sales through TREB’s MLS® System in June 2018 – up 2.4 per cent compared to the low June 2017 result.

Cannabis Legislation Passed and Possible Impact on Real Estate

Parliament passed Bill C-45, more commonly known as the cannabis legislation. Prime Minister Justin Trudeau subsequently announced that Canadians will be able to legally purchase and use a limited quantity of cannabis for recreational purposes as of October 17, 2018.

May 2018 GTA Sales Data - Market Recovery continues

On June 4, 2018, Greater Toronto Area REALTORS® reported 7,834 sales through TREB’s MLS® System in May 2018. This result was down by 22.2 per cent compared to May 2017. While the number of sales was down year-over-year, the annual rate of decline was less than reported in February, March and April, when sales were down by more than 30 per cent. On a month-over-month basis, seasonally adjusted May sales were basically flat compared to April.

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