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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com

22 May 2018

Millennials turn out to have the same homeownership desires as their parents

A recent report by Ryerson University shows that millennials have almost the same needs and desires as their parents in terms of homeownership.

Using an extensive demographic research and statistical analysis, the report found that millennials in the Greater Toronto and Hamilton Area are following their parents’ examples when it comes to purchasing their own properties. However, they will face much higher real estate prices and a possible lack of supply at the market.

"It turns out their needs and wishes are practically the same as in case of previous generations, especially the baby boomers," - noted Frank Clayton, the main author of the report.

"Millennials want low-density housing rather than high-rise apartments, so if we don’t provide the necessary supply, we’ll see the prices growing even higher”.

17 May 2018

Chinese interest in Toronto real estate is recovering

The wealthy Chinese’s interest in Toronto homes could be rebounding following a sharp decline after the foreign buyers’ tax was introduced in 2017, says the recent study by international property portal Juwai.com.

According to the report, the number of inquiries from Chinese potential buyers has been growing steadily since it reached the lowest level in January 2018.

“Chinese demand went down significantly after the foreign buyers’ tax was implemented, but now it seems to be recovering,” - Juwai.com CEO Carrie Law noted, adding that the possibility of the trend to keep going remains unclear.

However, in Law’s opinion, although Chinese offshore buying isn’t expected to return to its previous extremely high levels this year in Toronto, it may still exceed the levels seen right after the tax introduction.

16 May 2018

Home sellers in Toronto don’t seem to worry about a weaker real estate market

Although home sales reached the lowest level since the 2009 recession, sellers in Toronto don’t show the signs of a panic and don’t list their properties massively. It could mean they are sure the market will rebound later. The recent report by the Canadian Real Estate Association says new listings in Toronto were down by 8.6% last month from March, and the annual decline almost reached 30%.

The decrease has kept the sales-to-listings ratio (which is the main number determining a housing market’s health) relatively stable amid a significant sales decline. Probably, that’s why home prices in Toronto remain steady with a 3.1% increase since the start of the year, even despite the sales drop.

“In fact, the market is relatively balanced,” – noted John Pasalis, president of Toronto-based brokerage firm Realosophy Realty Inc. “When we compare it to a bubble, home sales can go down by 40%, inventory can go up and the market still remains balanced.”

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