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As quickly as it arrived, summer has flown by. Pencils are being sharpened, lunches are being packed, and there has been a palpable shift in energy, weather, and expectations concerning the Toronto real estate market.

While conditions remained relatively stable over the warmer months, it’s no surprise that many buyers were momentarily preoccupied with all that summer had to offer. However, with fall just around the corner, we expect a renewed focus from buyers, making this the perfect time to start planning…

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As we move through the quieter summer months, it is typical for the market to experience a bit of a slowdown, with many Torontonians shifting focus to summer getaways and warm weather adventures. There is, however, a fitting adage about the real estate industry never taking weekends off, and – judging by the activity level in our own headquarters – the same may indeed be true of summers. While much of this activity can be attributed to strategic planning and thoughtful preparation for the fast-approaching Fall…

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Consumers need to see more interest rate movement before major effects are felt.
This summertime reprieve presents the perfect opportunity to ready ourselves for a busy fall.

“If you build it, they will come.” For those of us who remember that famous movie line, this year’s anticipation around interest rate cuts had many feeling that same sense of eager anticipation – if you cut it, they will come. The sales figures for the month of June, however, tell a rather different story. The Bank of Canada’s…

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And… we have lift-off. After months of speculation from economists, analysts, and armchair experts alike, the Bank of Canada has decreased the overnight lending rate by 25 basis points. While this may seem like a small gesture from a financial standpoint, it is one that could have a rather profound impact on the Toronto real estate market, as many are viewing it as a positive sign of things to come. 

While it may not translate into a significant change to monthly mortgage payments, the cut marks the first time in more than four years that we have seen any decrease to the all-important lending rate, and, as such, it is widely expected to buoy sentiment among those who have remained on the sidelines.

"Affordability is…

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The April showers adage has never felt quite as fitting as it does today as I look out the window while typing these words and the rain is coming down in sheets. It feels appropriate, too, as a metaphor for how the market is behaving right now. TRREB just released the stats for March and the numbers confirm what our team has been experiencing firsthand: the market is springing to life a little more slowly than some were expecting, but, as with the adage and its promise of May flowers, there is much to look forward to in the months ahead.

The quieter start to the…

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Recently, the Federal government tabled its latest budget, and, although there are no proposed changes to the personal tax brackets, there are several measures – purportedly aimed at building more affordable homes, reducing the cost of living, and growing the economy – that will impact the housing market and, possibly, your real estate portfolio.

The following is a round-up of some of the key takeaways that will affect real estate buyers, sellers, and investors.

Capital Gains Inclusion Rate

One major component of the proposed budget centres around an increase to capital gains taxation. Capital gains, which are profits from the sale of assets like stocks or businesses, would undergo a rate increase from 50% to 66% for individuals on gains…

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The Toronto Real Estate Stage is Set for a Showstopping Spring 

Anticipated rate cuts and pent-up demand to spark a busier-than-usual spring market

The past two months have felt somewhat like a preview of spring. Far earlier in the year than what we are accustomed to, our phones started ringing, texts pinging and inboxes filling, with inquiries from clients, old and new, eager to dip their toe in the waters, so to speak, and get a temperature check on the upcoming market. 

January and the first half of February, in fact, felt like a dress rehearsal for what is no doubt poised to be a very active spring market – the official start of which is April 2nd. At Heaps Estrin, we saw an uptick in listings, fewer days on market, and more offers than…

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In a detailed examination by the Toronto Star, the Ontario real estate sector is currently experiencing a significant transformation. The article, titled “An exodus of 45,000 Ontario real estate workers has hit the industry since the slowdown — but some say Toronto still has too many agents,” authored by Clarrie Feinstein, a Business Reporter at Toronto Star, sheds light on the tumultuous journey of the real estate market in recent years.

Title: An Exodus of 45,000 Ontario Real Estate Workers Has Hit the Industry Since the Slowdown — But Some Say Toronto Still Has Too Many Agents

Author: Clarrie Feinstein, Business Reporter at Toronto Star

Publication Date: Saturday, February 17, 2024

Source: Toronto Star

Cailey Heaps of Heaps…

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Warming Trends Signal a Hot Spring Market in the Toronto Real Estate Forecast:

The promise of lower interest rates and higher consumer confidence are likely predictors of an early spring market. It may be February, but it’s safe to say that the real estate market shows no signs of behaving like Groundhog Day any time soon.

With a challenging year behind us, rather than living out the same experience day-after-day, all signs now point to change – change of a positive kind. TRREB just released its January statistics and while we are still experiencing some mild aftershocks from recent economic corrections, such as a dip in GTA house prices for the sixth month in a row, there is much to suggest that these repercussions will be short-lived.

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