In the first quarter of 2021, average condominium apartment rents were down on a year-over-year basis, continuing to reflect a supply imbalance in favour of renters. However, year-over-year growth in rental transactions outstripped growth in the number of units listed over the same period, suggesting that rental market conditions are starting to tighten in the Greater Toronto Area (GTA) once again. GTA REALTORS® reported 13,168 condominium apartment rentals through TRREB’s MLS®... [read more]

  HOW OPEN HOUSE FUNCTIONS In an open house, you are presented with an opportunity to scrutinize the GTA real estate that you would like to purchase. Moreover, you also have the chance to talk with the REALTOR® and address your issues and hesitations.  It can be difficult to know what you must ask. Here, we have outlined a few example questions that you can ask at the next open house. Why has the seller decided to sell now? By asking the REALTOR® why the seller... [read more]

Rent-to-own doesn’t come without its potential risks. If you enter into a lease-to-own agreement and choose not to purchase the home, you will likely lose all the money accrued toward a down payment.  While rent-to-own agreements in Canada are possible, they’re rare. If you’re worried that home prices will continue to go up in the future, one advantage of entering a rent-to-own situation is you get to pre-determine the purchase price of a home a few years before you... [read more]

Buying a home is a huge milestone in one's life. It is a decision you make by considering your circumstance based on where you are financially and emotionally. However, with what is happening in the rental market, now is an excellent time to buy.   So, What's going on in the rental market? The cost of rentals has grown at its fastest pace ever in the last three decades. The national median monthly rental price is now over $2,000 for the first time ever. The monthly rent... [read more]

The Ontario government launched the Housing Affordability Task Force, which has been tasked with finding solutions on how to increase the supply of both market-rate rental and ownership housing.   The task force comprises nine members who will provide the government with recommendations on additional measures to address market housing supply and affordability. They explore measures to address housing affordability by: Increasing the supply... [read more]