Saturday, January 28, 2017

■Condo & Rental Market Report | Q4 2016

Strong Condo Sales and Price Growth in Q4 2016

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 yearover- year to 6,831. Over the same period of time, new listings were down by 13.4 per cent.

With a double-digit annual increase in sales and a double-digit annual decline in new listings, condo market conditions tightened substantially over the past year.

"Gone are the days when we were concerned about a potential glut in inventory in the condominium apartment market. The supply concerns that have been top-ofmind for ground-oriented home types are also now a reality for the condo market segment. Regardless of the price measure considered, heightened competition between condo buyers has resulted in double-digit price inflation," said Mr. Cerqua.

At the end of the fourth quarter, the MLS® Home Price Index apartment benchmark price was up by 15.2 per cent. The average condominium apartment selling price for the fourth quarter was up by 14.5 per cent to $437,281.

"First-time buyers represent an important component of home ownership demand. Many households looking to purchase their first home will consider a condominium apartment. Interest in this market segment has continued to grow as prices for lowrise home types have increased on a sustained basis," said Jason Mercer, TREB's Director of Market Analysis.

Strong Average Rent Growth in Q4 2016

TORONTO, ONTARIO, January 26, 2017 – Toronto Real Estate Board President Larry Cerqua announced continued tightening in the GTA condominium apartment rental market in the fourth quarter of 2016. Greater Toronto Area REALTORS® reported 5,717 condominium apartment rental transactions through TREB’s MLS® System during the last three months of 2016 – down 5.8 per cent compared to the same period in 2015.

Rental transactions were down because of a lack of units available for rent, not because of declining demand.  The number of condo apartments listed for rent during the fourth quarter of 2016 shrank by more than 14 per cent to 9,545.

“We have talked a lot over the past year about a lack of inventory for ownership housing.  What is less well known is the fact that rental market conditions also tightened over the past year.  Competition between renters has increased, leading to very strong year-over-year growth in average rents,” said Mr. Cerqua.

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.

“The demand for rental accommodation has increased in the GTA.  The condominium apartment vacancy rate dropped markedly between 2015 and 2016.  In many parts of the GTA, investor-owned condo apartments are the only option for renters looking for new, modern units in sought-after neighbourhoods.  In the absence of more units coming available, expect above-inflation rent growth to continue,” said Jason Mercer, TREB’s Director of Market Analysis.

Saturday, January 21, 2017

■Just Launched Today_Via Bloor by TRIDEL

TRIDEL’s newest project, Via Bloor Phase 1 is just launched today!
Via Bloor is a tale of two buildings set to become a neighbourhood of people, public spaces and culturally rich experiences. Envisioned as a new retail promenade, TRIDEL will be extending Bloor Street’s famed shopping to create Via Bloor. More than a revitalization, it will inspire you to shop, eat, explore and live. It will become a boulevard of urbanity and greenery framed by Yorkville, Rosedale Village and the Danforth.

575 Bloor Street E. (Phase 1) & 585 Bloor Street E. (Phase 2)
Closest Subway Stations:
Sherbourne and Castle Frank Stations
Outdoor Amenity:
Swimming Pool & Outdoor Lounge
Indoor Amenity:
Fitness Centre, Yoga Studio, Weight Room, Spin Room, North & South Party Rooms, Sauna, Steam Room, Whirlpools and more!

Starting price for one bedroom unit is $366K (522 SqFt) facing east. Tentative occupancy date is early 2021. 5% deposit is due on signing. Contact me today for more information.

ABOUT TRIDEL: Eight Decades of Home Building. Over 80,000 Homes Built. Tridel Communities are 
Built Green. Built for Life.®

Friday, January 6, 2017

■Market Watch | January, 2017

Record Sales in 2016

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.

The strongest annual rate of sales growth in 2016 was experienced for condominium apartments followed by detached homes.

"A relatively strong regional economy, low unemployment and very low borrowing costs kept the demand for ownership housing strong in the GTA, as the region's population continued to grow in 2016," said Mr. Cerqua.

The annual rate of growth for the MLS® Home Price Index (HPI) in the TREB market area accelerated throughout 2016 – from 10.7 per cent in January 2016 to 21 per cent in December 2016. The overall average selling price for calendar year 2016 was $729,922 – up 17.3 per cent compared to 2015. The pace of the annual rate of growth for the average selling price also picked up throughout the year, including a climb of 20 per cent in December.

"Price growth accelerated throughout 2016 as the supply of listings remained very constrained. Active listings at the end of December were at their lowest point in a decade-and-a-half. Total new listings for 2016 were down by almost four per cent. In 2016, we saw policy changes and policy debates pointed at the demand side of the market. If we want to see a sustained moderation in the pace of price growth, what we really need is more policy focus on issues impacting the lack of homes available for sale," said Jason Mercer, TREB's Director of Market Analysis.

Monday, January 2, 2017

■Just Listed For Lease (Exclusive)_Townhouse in Mississauga

Well maintained & Tranquil. This 2 storey townhouse with 3 bedrooms in Central Erin Mills has an open concept main floor and tremendous natural light coming in from all windows. Close to Town Centre, public transits and Highway 403 with easy access to the city’s core. Enjoy a family friendly neighbourhood with great schools, parks, cafes and more. Call me today for a private viewing!

For Lease: $2,100

Designated Schools For This Home*:

Kindergarten 1 to Grade 5
Middlebury Public School

Grade 6 to 8
Thomas Street Middle School

Please note that the information displayed is for the current school year only. Although every effort is made to ensure accuracy, sometimes this information may not reflect the true boundaries. For clarification on boundaries or for help with your search, please contact Planning & Accommodation Support Services at 905-890-1010 (or 1-800-668-1146) ext. 2212.