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GTA REALTORS® Report Monthly Resale Housing Figures

TORONTO, May 5th, 2015 - Toronto Real Estate Board President Paul Etherington announced that Greater Toronto Area REALTORS® reported 11,303 sales in April 2015. This was the highest sales result on record for the month of April and represented a 17 per cent increase in comparison to April 2014. While sales increased strongly on a year-over-year basis, new listings were up over the same period by a more moderate five per cent.

“The record April result clearly points to the fact that a growing number of GTA households view ownership housing as a high quality long-term investment. This is evidenced by the strong sales growth we have experienced in Toronto and surrounding regions for all major home types. First-time buyers and existing homeowners remain very active in today’s market,” said Mr. Etherington.

The overall average selling price, which accounts for all homes reported sold by GTA REALTORS® in April 2015, was up by 10 per cent year-over-year to $635,932. The MLS® Home Price Index (HPI) composite benchmark, which estimates the price of a benchmark home with the same attributes from one period to the next, was up by 8.4 per cent over the same period. The fact that average price growth outpaced growth for the MLS® HPI Composite Benchmark, suggests that a greater share of higher-end homes changed hands this year compared to last.

Irrespective of the indicator used, price growth in the GTA was strongest for low-rise home types. However, the better supplied condominium apartment segment also remained healthy with price growth above the rate of inflation.

“Demand for ownership housing was very high relative to the number of homes available for sale in April. This situation is not expected to change markedly as we move through the remainder of 2015. Until we experience a sustained period in which listings grow at a faster pace than sales, annual rates of home price growth will remain strong,” said Jason Mercer, TREB’s Director of Market Analysis.

Source: Toronto Real Estate Board

Please feel free to contact me for a complete copy of the Market Watch Report

GTA Commercial REALTORS® Report Commercial Market Figures

TORONTO, May 5th, 2015Toronto Real Estate Board President Paul Etherington announced that TREB Commercial Network Members reported a strong year-over-year increase in leasing activity through TREB’s MLS® system in April. Combined industrial, commercial/retail and office space leased on a per square foot net basis, with pricing disclosed, was up by 79 per cent in comparison to the same period last year. The industrial market segment led the way with almost double the amount of space leased this year compared to last. The increase in industrial leasing was driven by deals reported in larger size categories. These types of larger deals were absent in April 2014. The number of transactions and amount of space leased can be volatile, especially when considering monthly statistics.

Changes in average lease rates in April were mixed. The average industrial lease rate was down to $5.11 per square foot net compared to $5.37 last year. This dip was due to the increased share of larger properties leased this year. Larger properties tend to lease for less on a per square foot basis. Average commercial/retail lease rates were up to $21.32 per square foot net compared to $19.00 last year and average office lease rates were down slightly to $13.06 per square foot net.

“Following an increase in leasing in the first quarter, strong April leasing results relative to last year point to positive results for the second quarter as well. Even though there is still some uncertainty for the outlook for the Canadian economy as a whole, it seems probable that the lower value of the Canadian dollar will boost the production of exports produced in the GTA. This expectation may be leading firms to take on more space in order to boost production,” said Mr. Etherington.

Total commercial sales in April 2015, where pricing was disclosed, amounted to 56, compared to 53 in April 2014. Industrial and office transactions were up on a year-over-year basis, whereas commercial/retail sales were down. Average selling prices per square foot were up slightly for industrial and office properties. The large increase in the average commercial/retail selling price was compositional in nature, with a change in the mix of above-average price transactions in the central core.

“The GTA is often at the top of various rankings, both as a place to live and a place to do business. The region’s close proximity to the United States and the recent dip in the value of the Canadian dollar should underpin further investment in commercial real estate moving forward,” continued Mr. Etherington.

Source: Toronto Real Estate Board

Please feel free to contact me for a complete copy of the Market Watch Report

Quick review of 2014 markets across Canada and 2015 forecast


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Great News for First Time Home Buyers

December 13, 2007


First-time buyers of resale homes to benefit from new tax measure

The Provincial government is giving all first-time homebuyers a break on land transfer tax by proposing to expand the Land Transfer Tax Refund Program to include purchases of resale homes, Finance Minister Dwight Duncan announced today.

"Expanding this Land Transfer Tax refund is an important part of our government's commitment to helping Ontarians buying their first home," Duncan said.

Effective midnight tonight, first-time buyers of resale homes, as well as newly constructed homes, would be eligible for a refund from the provincial government of up to $2,000 of the Land Transfer Tax paid.

For more information please click here: Land Transfer Tax Refund Program


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If you are thinking of SELLING or BUYING Residential or Commercial Real Estate in the Greater Toronto Area (Toronto, Mississauga, Brampton, Caledon, Georgetown, Milton, Oakville and surrounding areas), I would be please to work with you.

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