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Greetings!
It is hard to believe that we are already into September! We hope your summer was wonderful and that you were able to partake in many of the city’s offerings. There was no shortage of amazing activities this summer throughout the city including countless festivals, concerts and exhibitions.
With the uncertainty revolving around the global economic climate, we are seeing fixed interest rates on mortgages continuing to drop to near all time lows. Since the start of 2019, 5-year fixed interest rates have dropped between 80 to 100 basis points! This drop in interest rates will spur on an additional increase in activity from home buyers looking to take advantage of these ultra-low interest rates. In light of this news, we feel that the Fall real estate market in Toronto will be even more competitive than it was earlier this year.
With the upcoming Federal Election this October, housing affordability will continue to be a hot topic of discussion amongst party leaders. There are differing opinions amongst the political parties on whether the introduction of certain public policies will actually make housing more accessible for Canadians. For example, the Shared Equity Mortgage Plan introduced during the 2019 Federal Budget, is a step in the right direction, however only a very small segment of home buyers qualify for the program. The challenge for politicians is that Canadian metropolitan markets behave differently from one another, and a policy aimed at helping one area, may have negative repercussions for others. Some of the policies that are being discussed appear mostly at capturing votes, however with another 6 weeks left in the election campaign, a lot can change. We will continue to monitor the upcoming elections and how it may affect the future of the Toronto real estate market.
Also, this month be sure to enter our draw to win tickets to a Red Carpet Gala Premiere at the Toronto International Film Festival, review the monthly market statistics and much more.
Alex & Elaine
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| | "Toronto Real Estate Board President Michael Collins announced that Greater Toronto Area REALTORS® reported 8,595 sales through TREB's MLS® System in July 2019. This result was up by 24.3 per cent compared to July 2018. On a month-over-month basis, sales were up by 5.1 per cent, after preliminary seasonal adjustment." |
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| | | | | | | | 8 neighbourhoods in Toronto have seen home prices double in the past 5 years |
| | A new report from the real estate listing service Zoocasa reveals that eight out of the 35 MLS districts in Toronto have seen condo prices literally double over the past five years. Click the link below to find out which 8 areas made the list.
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| | | 5How to Prepare Your Closet for a New Season
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| | "Follow these tips to seamlessly transition your wardrobe from warm weather to cold and back again." |
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Great Opportunity to purchase at the eCondos at 8 Eglinton Avenue East!
Property Type: Condo Apartment # of Bedrooms: 2 # of Bathrooms: 1.5
Located at the North East corner of Yonge and Eglinton with direct underground access to the Subway/LRT. Steps to Yonge/Eglinton Center and shopping and restaurants along Yonge Street.
Please contact us for questions and details.
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Rarely Offered At The King's Loft Boutique Building!
Property Type: Condo Loft
# of Bedrooms: 1+1
# of Bathrooms: 1.5
Neighborhood: C01 Niagara
790Sf 2 Storey Loft On The Top Floor W/ 1 Br + Den, Soaring 17Ft Ceilings, Double-Height Windows & Lots Of Sun. Living Rm W/O To Balcony, W/ Unobstructed Quiet North Facing View & Bbq Allowed. Located In The Heart Of King W. Perfect Walkscore. Transit At Door. A++ Building & Mgmt. Large Pet Allowed. Gym, Party Rm, Sauna & Visitor Parking.
For more information please contact us.
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Click here to continue receiving Toronto real estate market updates, homeowner tips, client discounts at participating home services partners, chances to win prizes, access to exclusive listings, investment opportunities, free seminar invitations and more! |
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ThinkTorontoHomes, Royal LePage Terrequity Platinum Realty
293 Eglinton Ave. East, Toronto, Ontario M4P 1L3 Canada www.thinktorontohomes.com | info@thinktorontohomes.com |
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