Monthly Archives: July 2019

Month: July 2019 Condo rents decrease in Toronto downtown, Apartment vacancy rate goes up

    The number of newer rental apartments in the GTA that are empty and ready for new tenants is at its highest level since a leading real-estate consulting firm started keeping track in 2015.   According to Urbanation’s survey of purpose-built apartments completed since 2005, the average vacancy rate rose from a low of 0.3 per cent in the second quarter of last year to 1.5 per cent in the second quarter of this year.   The Toronto firm added that the “availability rate” — which includes vacant units as well as occupied units where the tenant has given

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Month: July 2019 Canada Displays Signs of Housing Bubble in 2019, Bloomberg States

  Canada and New Zealand are the most vulnerable economies to a correction in house prices, with Australia and the U.K. also drawing concern, according to new research from Bloomberg Economics.   Seeking to build a “housing bubble dashboard,” economist Niraj Shah studied ratios of house prices to rent and income as well as inflation-adjusted prices and household credit.   The results showed that Canada and New Zealand seem to be on the most unsustainable path, with the cost of housing compared with wages the highest in the world in both countries. Australia, Norway, Sweden and the U.K. also raise

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Month: July 2019 TREB Published June, 2019 Resale Market Figures

  Toronto Real Estate Board (TREB) announced that Greater Toronto Area REALTORS® reported 8,860 sales through TREB’s MLS® System in June 2019, representing a 10.4 per cent increase compared to June 2018. Over the same time period, total new listings remained at a similar level for the month of June, 2019 and active listings at month-end of June, 2019 were down by 5.7 per cent.   Sales and new listings statistics for the first half of 2019 compared to first half of 2018 painted a similar story to that of June, 2019. Sales were up by 8.5 per cent, while

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