News Releases
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TRREB Statement on Provincial Housing Affordability Task Force Recommendations
The Toronto Regional Real Estate Board (TRREB) welcomes the recommendations from the Provincial Government’s Housing Affordability Task Force. Governments at all levels must take coordinated action to increase supply in the immediate term to begin addressing the supply challenges of today, and to work towards satisfying growing demand in the future.
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Supporting British Columbia Relief Efforts
Torrential rainfall across British Columbia forced mass evacuations and extensive damage, with thousands of residents displaced from their homes.
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TRREB Unveils Key Market Drivers For 2022 And January Numbers
The market outlook for 2022 is calling for strong home sales in the Greater Toronto Area (GTA) with the average selling price expected to hit a new record. The latest polling conducted for the Toronto Regional Real Estate Board (TRREB) by Ipsos shows detached homes are on the top of the list for buyers while…
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Rental Market Tightens In Q4 2021
Condominium apartment rental transactions dipped in Q4 2021 compared to the same period in the previous year. This drop was due to an even greater yearover-year decline in the number of units available to rent. Following tightening rental market conditions, year-over-year growth in average rents accelerated into the double digits, as rents moved closer to…
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Condo Sales Reached An All – Time High
A record fourth quarter capped off a record year for condominium apartment sales in 2021. While condo listings were high from a historic perspective, it was not a record year on the supply side of the market. In fact, condo buyers experienced some of the tightest market conditions in 20 years. Strong competition between buyers…
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Record GTA Home Sales and Average Price in 2021
A record 121,712 sales were reported through TRREB’s MLS® System in 2021 – up 7.7 per cent from the previous 2016 high of 113,040 and up 28 per cent compared to 2020. Record demand last year was up against a constrained supply of listings, with new listings up by 6.2 per cent – a lesser…
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TRREB Calls on City Council to Focus on Expanding Housing Supply instead of New Investor Tax
With Toronto City Council set to consider a motion by a councillor to ask the provincial government to impose another tax on the sale of non-principal resident homes, referred to as a “speculation tax,” the Toronto Regional Real Estate Board (TRREB) is warning about the potential unintended impacts of such a tax. This tax would…
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GTA Home Sales Hit New November Record While Listings Drop
Home sales reached a new record for the month of November, and the average selling price also reached a new all-time high. New listings were down substantially compared to last year for all market segments – further highlighting the inherent supply issue across all home types in the Greater Toronto Area (GTA).
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Toronto City Council Adopts Inclusionary Zoning Policy
Toronto City Council has adopted a new Inclusionary Zoning policy framework intended to get more affordable housing built across Toronto.
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Toronto City Council Approves Small Business Property Tax Class
Toronto City Council has approved a new small business property tax class, to allow for a 15 per cent property tax reduction for small businesses. TRREB has supported this policy as an important way to encourage economic development.
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Near Record Home Sales, Low Inventory Sustain Strong Price Growth
Home sales in the Greater Toronto Area (GTA) reached the second-highest level on record for the month of October. However, the inventory of homes for sale did not keep up with demand. The number of new listings was down by approximately one-third compared to October 2020. Market conditions tightened across all major home types compared…
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GTA Rental Prices Surge While Rental Listings Drop Dramatically
Accelerating economic recovery from the pandemic has spurred renewed demand for rental accommodation in 2021. In the third quarter, there was a double-digit increase in the number of condominium apartment rental transactions reported through the Toronto Regional Real Estate Board’s (TRREB) MLS® System. Over the same period, tightening market conditions resulted in an increase in…