News Releases
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Garden Suites Now Permitted in Toronto After Dismissal of Appeal
The City of Toronto Garden Suites By-law is now in full force after the Ontario Land Tribunal (OLT) dismissed an appeal. The Garden Suites By-law and Official Plan Amendment were adopted by Toronto City Council on February 2, but were appealed shortly after. On July 4, 2022, the OLT decided that it did not have…
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TRREB Forecasts Current Market Conditions to Remain over Summer
Higher borrowing costs continued to impact home sales in June 2022. Sales totalled 6,474 – down by 41 per cent compared to last year’s strong result. The number of transactions was also down compared to May 2022, but this is often the case due to the seasonal nature of the market.
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TRREB Awards Members for Dedication and Leadership in the Real Estate Industry
Each year, the Toronto Regional Real Estate Board (TRREB) recognizes REALTOR® Members with accolades for their dedication and tireless commitment to their communities, and leadership within the profession and the real estate industry as a whole.
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Market Continues to Balance out as Borrowing Costs Trend Higher
Greater Toronto Area (GTA) housing market conditions continued to evolve in response to higher borrowing costs. Similar to April results, May 2022 sales were down on a monthly and annual basis. Conversely, active listings at the end of May were up on a monthover-month and year-over-year basis. More balanced market conditions have provided buyers with…
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TRREB REALTORS® Call on All Provincial Parties to Take Serious Action on Housing Affordability and Better Consumer Protection
With housing affordability challenges high on the list of priorities for many voters, the Toronto Regional Real Estate Board (TRREB) is calling on all political parties and candidates running in the 2022 Ontario election to take serious action following the election and prioritize housing policies that will help increase the supply of homes for sale…
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Market Adjusts to Higher Borrowing Costs in April
The Greater Toronto Area (GTA) housing market continued its adjustment to higher borrowing costs, with the number of transactions down on a monthly and annual basis. As has been the case with previous rate tightening cycles, some home buyers have moved to the sidelines to determine how they will reposition themselves in the marketplace given…
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The Cost to Rent Rises While Rental Listings Fall in GTA
Tight rental market conditions continued in the first quarter of 2022, pushing average rents closer to the pre-pandemic peak. Rental transactions were down year-overyear in the first quarter, largely due to the fact that rental listings dropped by an even greater annual rate. The result was increased competition between renters and double-digit rent increases.
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The Average Price of Condos Increased While New Condo Listings Remained Flat in GTA
Condominium apartment sales remained strong historically in Q1 2022. Seller’s market conditions remained in place with the average selling price increasing by more than 20 per cent year-over-year.
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TRREB Encouraged by Federal Budget Actions to Increase Supply of Housing
The Toronto Regional Real Estate Board (TRREB) is applauding the federal government for making housing affordability a priority of the 2022 Federal Budget but is questioning the need and effectiveness of some of the announced actions. Specifically, TRREB is encouraged that the budget includes initiatives intended to increase the supply of homes for sale and…