Families and individuals living in the Greater Toronto Area (GTA) pay some of the highest taxes on the purchase of a home in North America. In Toronto, buyers can expect a double land transfer tax, development charges and sales taxes, totalling over $200,000 in taxes and fees on the average priced home. Cutting taxes for…
TRREB has submitted feedback to the City of Toronto recognizing the potential of the City’s Avenues Review initiative to revitalize key corridors and add up to 160,000 new housing units. Designated Avenues, characterized by a mix of residential, commercial, and institutional uses, should guide sustainable growth and enhance urban design. Key Takeaways Areas of Concern…
A series of charts summarizing key residential statistics for the GTA, including an affordability indicator and time series for price, new listings and sales.
Greater Toronto Area (GTA) home sales increased year-over-year in September. Buyers were starting to take advantage of more affordable market conditions brought about by interest rate cuts and lower home prices. “As buyers take advantage of changes to mortgage lending guidelines and borrowing costs trend lower, home sales will steadily increase in relation to population…
Ontario continues to face a housing supply shortage along with affordability concerns. To tap into expert opinions on this critical issue, we invited Steve Adler, Senior Director of Public Affairs at NATIONAL Public Relations, and John Michael McGrath, columnist, reporter, and podcaster at TVO.org, to TRREB’s Ready to Real Estate podcast. Together they discussed Ontario’s housing…
The Toronto Regional Real Estate Board (TRREB) commends the Office of the Superintendent of Financial Institutions (OSFI) for its recent decision to eliminate the mortgage stress test requirement for uninsured borrowers switching lenders at renewal. This change is a significant step forward in ensuring that all Canadian homeowners, regardless of whether their mortgages are insured…
The Toronto Regional Real Estate Board (TRREB) welcomes the changes to mortgage rules announced by Deputy Prime Minister and Minister of Finance Chrystia Freeland. TRREB strongly supports the extension of 30-year insured mortgage amortizations to all first-time homebuyers which was limited to first time purchasers of new builds, and increasing the price cap for insured…
A series of charts summarizing key residential statistics for the GTA, including an affordability indicator and time series for price, new listings and sales.
Greater Toronto Area (GTA) home sales were down on a year-over-year basis in August 2024. New listings were up slightly over the same period. While the region’s housing market remained well-supplied in August, average home prices only edged slightly lower compared to August 2023. “The Bank of Canada’s rate cut announced on September 4 will…
Open houses are an effective way to showcase a client’s property to potential buyers. REALTORS® should treat an open house like a business with dedication, careful pre-event planning, positive interactions, and thoughtful post-event follow-ups. Real estate coach Mary-Anne Gillespie joins TRREB’s Ready to Real Estate podcast to discuss the power of open houses with TRREB’s Chief Market Analyst…
Each year, TRREB REALTORS® are involved in more than 200,000 property transactions and use the MLS® System to guide their buyers and sellers to make informed decisions. Working with a REALTOR® provides an advantage to buyers and sellers who know they have a knowledgeable professional to guide them through every step of the transaction while…
TRREB, CREA and OREA are advocating for crucial changes to HST/GST relief. We’re calling on the federal and provincial governments to extend HST/GST relief to non-profit affordable ownership housing. This step aligns with Habitat for Humanity’s strong advocacy on this issue. Read the letter