August 12th, 2009 by admin
Up to May 2009 it was reported 3945 condominium apartments were leased, an increase of 30% over the same time in 2008. Over 90% of Toronto rental transactions involved condo apartments. On average the price to rent condos in Toronto fell 2% except the three bedroom units.
At the same time the amount of rental transactions increased by almsot 40% and the number of listings by roughly 60%. Families looking to rent in Toronto have more choice on what to rent and can get better prices at the moment. This is definately good news for those who rent.
Most of the increase in the numbers comes from newly build condominiums in Toronto completed at the end of 2008. The number of condominium buildings finished in the last quarter of 2008 increased by 96% compared to 2007. Many of them registered as corporations in the beginning of 2009, leading to more investor owned units entering the Toronto rental market, causing the prices for rental units to drop.
April 26th, 2009 by admin
Toronto real estate reported for the new transactions for the first half of April and they are down 7% from the good results in March. But the numbers still improved over the winter ones. Toronto houses are now taking advantage of the lower interest rates and lower prices. The sale price went down about 4% to $399,000 from last year. At least the Toronto real estate seems to stabilize as the market got tighter and existing home sales increased in comparison to new listings.
December 10th, 2008 by admin
The banks realize that households have become very cautious in this unstable economy and know that this global and domestic economic recession will mean lower profile for inflation than been projected before. At the same time the bank is planning on the rate of inflation of two percent, this rate has been below the level for more than a year. It means the same for people looking for house for rent Toronto, people are waiting it out to see what happens next.
The bank also said that it will continue to monitor the financial and economic developments in the country to figure out what they can do to get to that two percent inflation rate goal the set for the medium term. They also claim that sales activity and house for rent Toronto activity keeps declining with buyers and renters taking more time to look around.
November 20th, 2008 by admin
The amount of real estate properties sold through the MLS system has dropped in October 2008 judging by the latest statistics from CREA. Most of the decline comes from houses for sale in Toronto and house for rent Toronto and a few other major markets.
In all of Canadas major markets sales activity dropped to over 15% from last months sales. Its because many homebuyers decided not make any drastic moves based on the news headlines about the stock markets and bad condition of the global economy.
Total sales activity was well down from levels seen in September in over three quarters of Canadian house market include the four most active zones such as Toronto, Montreal, Vancouver and Calgary. House for rent Toronto are also down as more people are hesitant to sell their property and would rather rent it out for the time being