Tuesday 19 February 2013

Release Mid-Month Resale Housing Figures

Feb 19, 2013 -- Greater Toronto Area REALTORS reported 2,823 sales thru the TorontoMLS system in the first 14 days of Feb. 

"The number of transactions was lower for most home types contrasted to last year, but so too was the number of new listings. This indicates that market conditions stayed quite tight, especially for low-rise home types. 

"The yearly rate of price expansion so far in February has been in line with expectancies for 2013. The result was continued price expansion over last year," recounted Toronto Real-estate Board President Ann Hannah. The average selling price in the GTA will continue to grow this year but at a slower pace matched against 2012. The basis of this price growth will be the low-rise wedge of the market, for which months of inventory and so choice for buyers remains extremely low," claimed Jason Mercer, TREB's Senior Boss of Market Research.


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Thursday 14 February 2013

Toronto Land Transfer Tax

TREB lately released the result of public opinion polling, conducted by Ipsos Reid, which found : . 

Just about 7 in ten Torontonians, 68 percent, support plans to get rid of the Toronto Land Transfer Tax. This is up from 65 % one year gone. 
72 % oppose city land transfer taxes regardless of if this tax was dedicated for spending on transit and infrastructure. 
76 percent of Torontonians who latterly paid the LTT feel that they have received little or no added value in civil services for the quantity of LTT that they paid. 

"For the buyer of an average detached home in Toronto, the municipal land transfer tax costs circa $10,000. Hannah. It's unfair to expect people like down-sizing seniors, or young growing families who require more space, to pay so much more than their fair share," recounted Ms. The C.D. 

Research has shown that municipal land transfer taxes have a negative effect on home sales. Additionally, the Ipsos Reid poll discovered that 25 percent of the people who latterly bought a home in Toronto would have spent their land transfer tax money on furnishings or appliances, if they'd not had to give it to the City, and 21 % would have spent it on renovations. 

"Housing sales create roles because when people move they spend money on things like renovations, movers, appliances, and furnishings. Every housing sale that's lost due to the Toronto land transfer tax risks Toronto jobs," said Ms. Hannah.
 

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Wednesday 6 February 2013

TORONTO, February 5, 2013

TORONTO, February 5, 2013 -- Greater Toronto Area REALTORS reported 4,375 transactions through the TorontoMLS system in Jan 2013. This number represented a slight decline compared to 4,432 transactions reported in Jan 2012. While the number of transactions was down a touch compared against last year, the rate of decline was much less than what was experienced in the 2nd half of 2012. 

"The Jan sales stats represent a great start to 2013. 

"It is fascinating to note that sales were up for many home types in the GTA regions surrounding the Town of Toronto. This suggests that some purchasers, who put their decision to get on hold last year due to tougher mortgage lending guiding principles, are once again becoming active in the market," said Toronto Property Board ( TREB ) President Ann Hannah. This is due, at least in part, to the additional up front land transfer tax in the City of Toronto," added Ms. 

The average selling price for Jan 2013 sales was $482,648 up by 4.3 percent compared with $462,655 in January 2012. 

Greater Toronto REALTORS are devoted to their work. Expect annual average price growth in the 3 to five per cent range this year," said Jason Mercer, TREB's Senior Boss of Market Analysis. They are ruled by a tough Code of Ethics and share a up-to-the-minute Multiple Listing Service. Over 36,000 TREB Members serve customers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.



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Friday 1 February 2013

200 Robert Speck Pkwy. #1205 Mississauga ON__//__ $249,000 Tom Smok 416-992-5010

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