Toronto Housing Market
1 min read
In September 2022, Toronto saw the lowest number of new listings reported since September 2002. Comparing September 2022 to September 2021, sales for the month were down by 44%. The main issue within the GTA is the housing supply shortage alongside the increase in interest rates.
Torontonians are concerned with the supply of homes available to buy or rent and see it as a vital issue within the GTA. They also look to see more support and involvement from Municipal councils, as their decisions directly impact housing affordability.
“Elected councils must also reconsider existing policies preclude homeowners from listing their homes for sale, including significant upfront costs like the land transfer tax. Potential new policies like mandatory home energy audits could also create unnecessary interference and delays in the home selling process and dissuade some homeowners from listing their homes for sale,” said TRREB CEO John DiMichele.
References
News releases. TRREB. (n.d.). Retrieved November 21, 2022, from https://www.trreb.ca/index.php/news/news-releases
About Royal LePage Commercial Westhaven Toronto
Our commercial real estate industry and segment expertise coupled with Royal LePage’s national platform and integrated systems provides best-in-class real estate strategies and a competitive advantage that can’t be beat.
We help businesses identify opportunities and maximize their return on investment with actionable goals, centralized support services and a strong commitment to customer success. Our national partnerships help us establish, guide and execute successful business investments.
We offer commercial real estate agents a professional environment, focused 100% on commercial real estate. Agents can expect unlimited market boundaries to build their business without the interference of a heavy corporate structure. In addition, agents will be able to access Royal LePage’s national referral network of over 18,000 agents to develop more business in their target markets with incoming leads generated daily. The brokerage provides agents a suite of services including marketing, promotional, networking and professional development needs.
Innovation and service excellence have developed and propelled the Royal LePage brand since 1913. When you join Royal LePage Commercial Toronto brokerage, you have the backing of one of the most powerful commercial real estate services company in Canada—Bridgemarq Real Estate Services Inc. (formally Brookfield Real Estate Services Inc.). Bridgemarq is a leading provider of services to real estate brokers and agents. They are an affiliate of Brookfield Business Partners, a business services and industrials company focused on owning and operating high-quality businesses and is listed on the New York and Toronto stock exchanges.