If you’ve followed Toronto’s new condominium market over the past 10 years, it’s been quite a ride. At the start of 2009, it was all doom and gloom, as the U.S. housing market crash and global contagion had the Toronto development industry players holding their breath. Forecasts called for 4,000 new condo sales in the Greater Toronto Area (GTA) that year, and with 930 sales in the first quarter,...

What Is An Assignment? An assignment of an Agreement of Purchase and Sale is when the original purchaser (Assignor) from the Builder agrees to allow a new purchaser (Assignee) to take over the contract with the Builder. The original purchaser does not have to close with the Builder and does not take possession (if occupancy has not taken place) or title to the property. The new buyer takes over and...

Growing cities, losing affordable housing at alarming rates. Ever since a Request For Proposals process selected Capital Developments and Metropia to redevelop a 7.3-acre Toronto District School Board property at Bloor and Dufferin, a high-density rebuild of the site was expected. After community feedback and following two versions of the plan, the developers have returned, revising the proposed...

Market Update June 5, 2019 - The year-over-year uptick in sales experienced so far in the second quarter of 2019  suggests that home buyers in the Greater Toronto Area has edged upwards since the fall.     After a sluggish start to 2019, the second quarter appears to be reflecting a positive shift in consumer sentiment toward ownership housing. Households continue to see...

We spoke with Carolyn Mednick, Diane Wallace and Dee Pasquale to get the scoop on the Toronto real estate development market. As real estate sales and marketing influencers, they share some of Great Gulf’s sweetest treats.   Yummy!! We believe a picture is worth a thousand words.   Carolyn: Oreo McFlurry, Dee: Vanilla soft cone with sprinkles, Diane: Ice Cream Sandwich...

You've decided to raise your child in Toronto, it can now be tough deciding which neighbourhood is best for your family. Many factors come into play: What are the best schools in the area? What amenities does the building offer? Are there playgrounds nearby? How secure is the building? And the list goes on. But to make the process a little easier, we’ve rounded up 3 of the best family-friendly new...

Thirty per cent of households with children in Toronto live in mid- or highrise buildings. Downtown it’s 66 per cent. In fact, the number of families with children and teens living in highrise buildings grew by 10,000 or 15 per cent between 2006 and 2011. Yet the average size of a re-sale condo has dropped 20 per cent —1,087 sq. ft. to about 885 sq. ft. between 1996 and 2014. The city of Toronto has...

Market Update May 7, 2019 - There has been strong year-over-year growth in sales and this is obviously a good news story and likely represents some catchup from a slow start to the year. TREB's sales outlook for 2019 anticipates an increase relative to 2018. It should be noted, however, that growth in new listings is not keeping pace with sales. This points to the ongoing housing supply issue in the...

The number of Airbnbs in Toronto that could be used as long-term rentals – and help alleviate the city's housing crisis – has doubled since 2016. According to a new report released by Fairbnb, a national coalition of hotel union workers, affordable housing advocates and condo residents, there are currently 6,500 entire homes in Toronto listed on Airbnb. That's a 25 per cent increase in the last year...

Spotting these future hot neighbourhoods takes long-term vision. Whether you’re a young professional, smart-sizer or an expanding family, there’s something for everyone in an evolving area. Here are 5 signals you can use to identify an up-and-coming neighbourhood:   1. Major Renovations or New Builds are Underway. You can see this change in a variety of ways: • Smaller homes...