The Toronto Real Estate Board (TREB) is applauding the provincial government’s action to make changes to the regulation for those who trade in real estate in Ontario, including REALTORS®. This will help enhance professional standards, create a more fair and efficient business environment, and better protect consumers. The changes are being introduced through the Trust in Real Estate Services Bill, and have been called for by TREB for many years after extensive consultations with the current and former provincial governments.
The Toronto Real Estate Board, which represents 54,500 REALTORS® across the Greater Toronto Area (GTA), including York Region, is calling on Richmond Hill Council to pass a common sense open house sign by-law that addesses concerns for public safety, public confusion, and by-law enforcement which are present under the current trial open house sign by-law passed in July 2019.
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,491 residential sales through TREB’s MLS® System in October 2019. This result represented a 14 per cent increase compared to 7,448 sales reported in October 2018. GTA-wide, sales were up on a year-over-year basis for all major home types.
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 6,407 condominium apartment sales through TREB's MLS® System in the third quarter of 2019. This result was up by 11.1 per cent compared to Q3 2018.
Toronto Real Estate Board President Michael Collins announced that TREB Commercial Network Members reported 6,295,432 square feet of leased space in Q3 2019 for all lease transactions types across the industrial, commercial/retail and office market segments. This result represented an 8.7 per cent decline compared to Q3 of 2019.
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 10,800 condominium apartment rentals through TREB’s MLS® System in the third quarter of 2019. This result was up by 17.3 per cent compared to the third quarter of 2018.
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 7,825 sales through TREB’s MLS® System in September 2019. This result represented strong year-over-year sales growth of 22 per cent compared to 6,414 sales reported in September 2018. It is important to note, however, that sales remain well-below the record September 2016 peak of more than 9,800 sales.
The Toronto Real Estate Board (TREB) is encouraged by the attention being paid by federal political parties, during the current election campaign, on key housing issues affecting home buyers. Specifically, the Liberal Party’s expansion of the First Time Homebuyers Incentive Program, and the Conservative Party’s plan announced today to fix the mortgage stress test, increase mortgage amortization periods and make federal real estate available to increase the supply of housing.
Today’s First-Time Home Buyer program announcement responds to the fact that housing markets vary from region to region, something TREB has long pointed out. The higher limits now take into account higher priced properties in markets like Toronto and Vancouver. We also believe that our recommended solutions, including revising the mortgage stress test and bringing back 30-year mortgage amortization, will be effective in addressing ownership housing affordability. Further analysis is required to understand if today’s proposed speculation and vacancy tax announcement will help increase the supply of available housing over the long term, or aid with affordability. We’re also keen to hear from the other federal political parties regarding their platforms on measures to assist with home ownership affordability.
REALTOR® associations from Canada's largest real estate markets are calling on all levels of government to take meaningful action to make home ownership more accessible to people across the country. With a federal election on October 21, the Toronto, Calgary and Vancouver real estate boards, together with the Quebec Professional Association of Real Estate Brokers, the REALTORS® Association of Edmonton and the Nova Scotia Association of REALTORS® are urging the federal political parties to commit to policies that will help remove barriers and reduce the cost of home ownership.
The new President of the Toronto Real Estate Board, Michael Collins, announced that Greater Toronto Area REALTORS® reported 8,860 sales through TREB's MLS® System in June 2019, representing a 10.4 per cent increase compared to June 2018. Over the same time period, total new listings remained at a similar level for the month of June and active listings at month-end were down by 5.7 per cent.
Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 9,749 condominium apartment rental transactions through TREB's MLS® System in the second quarter of 2019. This result was up by 14.9 per cent compared to Q2 2018.