| Toronto News

The latest headlines in Toronto and Canadian real estate from October 21st to October 27th.

This week’s recap:

Buyers regain confidence as Toronto real estate market rebounds from summer sales slump.

The uncertainty sparked by the introduction of Ontario’s fair housing plan is starting to wane as formerly hesitant would-be buyers regain confidence that Toronto’s real estate market is stabilizing again, analysts and realtors said Sunday.

While some prospective buyers will be hit by new mortgage rules coming into effect on Jan. 1, the overall market will likely see little impact from the changes.

View the full article on CBC here.

The next hot neighbourhoods.

In the past five years, it has become almost impossible for aspiring homeowners to achieve the Platonic ideal: a good-sized house in a safe neighbourhood, with decent schools and leafy green space and a commute that isn’t soul-­crushing. Only virtual millionaires, or ­non-millionaires with millionaire parents, or non-millionaires willing to commit to a lifetime of crippling debt, could afford to break into the housing market. Everyone else had to settle for cramped condos and crumbling fixer-uppers. But in the interest of keeping the white-picket dream alive, we did some digging.

View the full article on Toronto Life here.

New home sales in GTA slower but no crash in sight: Report.

Condo investors have backed away from the Toronto area in the wake of Ontario’s new foreign buyers tax, but that hasn’t halted construction of new homes in the region.

Investor inquiries on the BuzzBuzzHome site dropped 52 per cent year over year in September and 42 per cent in the latest quarter compared to the same period in 2016, said a third-quarter report from the online development hub.

View the full article on The Star here.

Toronto condo signs on to 1st agreement in Canada to regulate Airbnb rentals.

Airbnb says a Toronto condo building is the first in Canada to sign an agreement with the short-term vacation rental company.

Neptune condominiums, located near the city’s waterfront, is also the first outside the United States to sign on to the Friendly Buildings program in an effort to regulate short-term rentals.

The agreement between Neptune and Airbnb takes effect Nov. 1. Put simply, the program — piloted in the U.S. and made a permanent offering earlier this year — gives condo boards an option to more strictly control who hosts and keep tabs on renters.

View the full article on CBC here.

Are you thinking of moving but not sure where to start? Do you have real estate questions and need answers? Call us at #416-291-7372 or email us at hello@christinecowern.com anytime. We’d love to help!

Header image via The Star.

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