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TRREB Statement: Value for Money Audit of RECO by the Auditor General of Ontario
TRREB was pleased to participate in the consultation by the Office of the Auditor General of Ontario (OAGO) in conducting a RECO value for money audit and is encouraged by the response from the Ministry and RECO to act on a number of recommendations in the audit report. Effective oversight of the real estate industry…
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Expanding Housing Options for Residents New and Old
After a brief downturn due to COVID-19, immigration is back to normal in the Greater Toronto Area (GTA), with the City of Toronto anticipating an additional one million residents over the next 30 years. Immigration is a cornerstone of economic growth and key to the diversity that makes regions, such as the GTA great. Studies,…
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MLS® Home Price Index
In line with best statistical practices, the MLS® HPI is reviewed annually. Coverage may be revised when results from the Annual Review are implemented each June. For example, HPI coverage may now extend to areas within markets where sales volumes were previously too low but have picked up enough to support Benchmark price tracking. On…
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Ontario Election: Housing Platforms Explained by Liberal Lisa Patel and Green Abhijeet Manay
The province’s June 2 election day is just around the corner, and with housing being top of mind for many Ontarians, TRREB hosted a debate on the Ready to Real Estate Podcast between provincial candidates in GTA ridings.* Abhijeet Manay, the Green Party deputy leader and candidate for the riding of Beaches–East York, and Lisa Patel, TRREB…
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Mortgage Rates: Present and Future
In an attempt to curb rising inflation, the Bank of Canada has been hiking its policy interest rate – with the most recent increase being 50 basis points to 1 per cent. The Bank’s target for the Overnight Lending Rate directly impacts the cost of borrowing for variable rate mortgages and lines of credit and indirectly…
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Four Things You May Not Know About Home Renos in 2022
Before the COVID-19 pandemic lockdowns struck in March 2020, spending on home renovations in Ontario was already outpacing the rest of the economy, with more than $80 billion spent on improvements in 2019 according to Altus Group research. Since the pandemic hit, renovation permit applications are up a further 18 per cent across the province.…
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Climate Change Means Changes in Real Estate
The impacts of climate change are undeniable, and growing year after year. Since the 1950s, disaster loss insurance claims have doubled every five to 10 years, and in 2005, they approached $100 billion. As the majority of many Canadians’ equity is within the home they own, it’s imperative to protect that investment from extreme weather…
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Law, Order, and Real Estate
REALTORS® have an obligation to act in their clients’ best interests, whether they’re buying their first or dream home, or looking to be a tenant or landlord renting out an investment property. They have to act within the confines of the law, and that is where real estate lawyers can help. On a recent episode…
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The 2022 Rental Market Outlook
Buying and selling real estate has garnered a lot of media attention, especially with rising home prices both before and during the COVID-19 pandemic. The rental market – and especially so in the Greater Toronto Area (GTA) – has also seen its share of sweeping changes brought on or exacerbated by pandemic-induced shifts in the…
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TRREB Climate Change Statement
The Toronto Regional Real Estate Board (TRREB) recognizes and acknowledges the current and impending impacts of climate change on our clients, community, and built environment.