Category Archives: City of Toronto

How Do Toronto Home Prices Relate To TTC Subway Stations?

A new map published by BlogTO and formulated by SkyViewSuites has laid out the average home prices for each TTC subway station in the city.

It’s definitely interesting to note where prices rise and fall depending on where you are in the city.

Check the map out in full on BlogTO over here.

 

Ontario Residents Feel That Local Real Estate Markets Are Growing Stronger

According to the Ontario Home Ownership Index, a survey conducted semi-annually by the Ontario Real Estate Association, more Ontarians feel that residential real estate markets are stronger now than a year ago (40 per cent vs. 33 per cent last year).

“As Toronto’s real estate market continues to make headlines, residents in the 416 believe that it has the potential to become stronger still in the next year,” said the vice president of Ipsos Public Affairs, Sean Simpson. “Regional perceptions are more aligned on the question of economic conditions. Across all regions surveyed, fewer Ontarians this year described the current state of the economy in Ontario and their city as ‘good’.”

In the GTA, the number of people who would describe the local economy as “good” has dropped from 66 per cent last year to 60 per cent this year. On a more local level, it’s dropped from 64 per cent to 56 per cent in the 416 area code, and from 68 per cent to 64 per cent in the 905 area code.

However, when asked about the next year, 46 per cent of both the 416 and 905 area codes said the city would be “stronger”, which is up from 35 per cent and 44 per cent.

BlogTO’s Top 10 Toronto Buildings of 2015

What new and architecturally unique buildings are now dotting the skyline in the city of Toronto?

Blog TO has the answer for you, showcasing the top 10 buildings of 2015. Check out the list here!

Toronto Real Estate Board Makes Presentation To City Budget Committee

The Toronto Real Estate Board released a statement on its presentation to the City’s Budget Committee on the proposed 2016 Operating budget.

“Between annual property taxes and the MLTT, City Hall has a huge impact in the cost of home ownership,” said the president of the Toronto Real Estate Board, Mark McLean. “With that said, the proposed budget demonstrates Mayor Tory’s determined leadership by ensuring equity for taxpayers, specifically through bold, yet fair, property tax increases.”

He continued, “Like everyone, Realtors want to see City costs on homeowners minimized. We believe this budget does that with a fair proposed inflationary property tax increase. Realtors also understand the benefits of City building, and believe that revenue, for this, should be collected in the fairest possible way. Property taxes are much fairer than the MLTT. Mayor Tory’s proposed dedicated property tax levy is a fair way to raise revenue for city building projects.”

Based on the average price of a home in Toronto, a home buyers in the city can expect to pay about $9,000 for the Municipal Land Transfer Tax when buying a home in the city of Toronto.

No Ontario Land Transfer Tax Extension: Ontario Real Estate Association Releases Statement

Minister of Municipal Affairs and Housing Ted McMeekin announced that the government of Ontario would not be extending power to municipalities across Ontario to implement their own Land Transfer Tax, something that Toronto has had in place for years.

“This is a huge win for Ontario’s home owners and those who dream of one day owning a home,” said the president of the Ontario Real Estate Association, Patricia Verge in a press release. “On behalf of OREA, I want to thank Minister McKeenin for his leadership on this issue and for standing up for Ontarians who said, by the thousands, that this is not a fair or equitable tax.”

She continued, “I would like to also acknowledge MPPS on all sides of the legislature who spoke both publicly and privately against the tax. Your work has helped protect affordable home ownership for future generations. Finally, I’d like to thank the public who rallied with us to put a stop to the spread of this tax and to OREA’s 60,000 members for their feedback, dedication and commitment over the past weeks.”

According to OREA, almost 80 per cent of Ontario residents think that a municipal land transfer tax would limit their ability to afford a home, while it’s estimated that Toronto’s land transfer tax has already cost Toronto almost 15,000 jobs.

Canada Mortgage and Housing Corporation Releases Results of Survey of Foreign Ownership in Canadian Condos

The Canada Mortgage and Housing Corporation has released the results of it’s fall 2015 survey of foreign ownership in condominiums in Canada.

The survey found that the shares of foreign ownership in condos were lowest in Regina, at 0 per cent, and highest in Toronto and Vancouver, at 3.3 per cent and 3.5 per cent respectively.

“The results of the fall 2015 survey indicate that the shares of foreign ownership in condominium apartments remained low in the 16 CMAs surveyed. While this provides insight, more information is needed on foreign ownership and investment in Canadian housing markets,” said Felicia Mutheardy, Senior Economist with the Canada Mortgage and Housing Corporation. “CMHC is exploring ways to access additional data on foreign ownership and investment in collaboration with other housing industry stakeholders.”

For more information, the full Housing Market Insight report from the Canada Mortgage and Housing Corporation is available here.

Where To See Fall Colours In And Around Toronto

Some of the best fall colours around are found right here in the Greater Toronto Area. And really, there’s nothing better than a weekend drive with the family and a picnic to make the most of these colours while they last, and before winter shuts things down for way too many months. Here’s a list of some of the best places to view the fall colours in Toronto and the surrounding areas:

Toronto

  • Leslie Street Spit
  • Toronto Islands
  • High Park
  • Humber Valley
  • Necropolis Cemetery
  • Scarborough Bluffs
  • Moore Park Ravine
  • Glen Stewart Ravine
  • Don Valley and Don Valley Brickworks

Surrounding Areas

  • The Niagara Escarpment
  • Rouge Park
  • Bronte Creek Provincial Park
  • Caledon
  • Algonquin Provincial Park