Jeanette Grant

MARKET UPDATE FOR THE WEEK ENDING FEBRUARY 19TH, 2021

23 February 2021
Jeanette Grant

More than two-thirds of Toronto condo investors are planning to sell their properties rather than pay the new vacant home tax, according to a new Toronto Regional Real Estate Board (TRREB) report. Toronto City Council voted to create an implementation plan for a vacant homes tax in the city which would take effect sometime in 2022. The tax would encourage owners to sell or rent out their vacant properties, which would increase housing supply, the City of Toronto said in a news release. Those who do not would need to pay the tax, and proceeds would go toward building new housing supply.


MARKET UPDATE FOR THE WEEK ENDING JANUARY 29TH, 2021

02 February 2021
Jeanette Grant

Have you heard? The Toronto spring real estate market is underway and its picking up steam at an uncomfortable pace. Several significant home sales with multiple offers and plenty of “bully offers” are flaring up in some hot pockets of the city and the surrounding 905 regions. Buyers have secured very attractive interest rates and the demand for space rather than speculation seem to be driving the market. It’s a concern among central bankers that this could be become a bubble with such low interest rates. On Wednesday, Canadian policy makers kept interest rates at 0.25%, and committed to keep borrowing costs low until the damage from the pandemic is fully repaired, something they don’t see happening until 2023.


MARKET UPDATE FOR THE WEEK ENDING JANUARY 22ND, 2021

28 January 2021
Jeanette Grant

Toronto’s vacancy rate on apartments hit 5.7% in the fourth quarter of 2020, the highest level the city has recorded in 50 years, after nearly a decade of being under 2%. As the pandemic pushed tenants outside the core of the city, the vacancy rate in the 905 areas surrounding Toronto remained at a much tighter 2%. These results are just an example to just how drastically the pandemic altered the rental market.


MARKET UPDATE FOR THE WEEK ENDING NOVEMBER 13TH, 2020

19 November 2020
Jeanette Grant

How is it that our stock markets and house prices look like this is the best of times? Many people have been scratching their heads lately trying to understand how it is that Canada’s average house price jumped more than 17 per cent during the worst economic crisis to hit the world in decades.


MARKET UPDATE FOR THE WEEK ENDING NOVEMBER 18TH, 2016

24 November 2016
Jeanette Grant

Here we go. The Santa Claus Parade i s the definitive Toronto tradition and if that didn`t signal the start of winter then this week`s little blast of cold air sure did. Despite the temperature drop there is no sign that the real estate market is slipping into hibernation just yet. We know there are many frustrated buyers out there but we would encourage them all to keep looking. If you are contemplating putting your buying intentions on hold you will pay the ultimate price when prices escalate in the Spring...just like they did last year.