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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com


7 June 2019

Prices for recreational homes are growing, although sales are going down

Poor supply is driving demand for recreational properties in Quebec and Ontario, and in case of Ontario, even the floods couldn’t restrain the trend.

“This spring, the market faced an extremely strong demand, as even with flooding, we’ve seen consumers purchasing properties which were under water at that moment”, - Phil Soper Royal LePage’s CEO noted. “Although it’s an anecdotal tale, the demand was still so high that people were paying a full market value, while they didn’t have an access to their properties. They were searching for potential profit”.

According to Royal LePage, a restrained supply led to a 7.2% prices increase in Ontario, while sales were down by 7.9%. Meanwhile, Quebec reported a 5.6% prices gain. And these two provinces took the hardest hit from the flooding. The report says strong competition between retirees and millennials with young families is the reason of such a growth, especially in Ontario.

Soper noted, the national prices were driven mostly by the two most populous Canadian provinces.

6 June 2019

Toronto housing market is becoming more profitable for sellers

It looks like Toronto real estate market is entering the sellers’ territory, as home sales in May were up sharply, while supply remained almost unchanged.

The recent report by the Toronto Real Estate Board (TREB) says there were 9,989 home sales through the MLS System last month, which is 18.9% higher than the 15-year low result seen a year ago.

Nevertheless, TREB president Garry Bhaura noted that May’s performance is still lower than the long-term May average of 10,300, in spite of the significant improvement from a weak start of the year.

“Sales activity is still below the longer-term norm, as potential home buyers have to face the OSFI mortgage stress test and restrained supply”, -  he added.

4 June 2019

Toronto’s population growth is outpacing all other cities in Canada and the U.S.

It seems that a strong demand for Toronto real estate isn’t going down, as the city turns out to be the fastest growing one not only in Canada, but also in the U.S.

Specialists tend to discuss the issue of population growth as one of the main factors supporting housing demand, and the recent report from Ryerson’s Centre focuses on Toronto concerning this topic.

During a 12-mosnth period, finished last July, the city’s population rose by as many as 77,435 residents.

Meanwhile, the second-fastest-growing city, Phoenix, was up by 25,288 people.

As a result, Toronto’s growth outpaced the combined population gains of America’s three most sharply growing cities. Third-ranked San Antonio saw an increase by 20,824 people, while Fort Worth followed with 19,552.

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