TORONTO, February 6, 2019 - TREB President Garry Bhaura announced that Greater
Toronto Area REALTORS® reported 4,009 home sales through TREB’s MLS® in
January 2019 – up by 0.6 per cent compared to January 2018. On a preliminary
seasonally adjusted basis, sales were up by 3.4 per cent compared to December
"It is encouraging to see the slight increase in January transactions on a year-overyear
basis, even with the inclement weather experienced in the GTA region during the
last week of the month. The fact that the number of transactions edged upwards is
in line with TREB’s forecast for higher sales in calendar year 2019," said Mr. Bhaura
The MLS® HPI Composite Benchmark price was up by 2.7 per cent compared to
January 2018. The condominium apartment market segment continued to lead the
way in terms of price growth. The average selling price was up by 1.7 per cent on a
year-over-year basis. After preliminary seasonal adjustment, the average selling price
edged lower compared to December 2018.
"Market conditions in January, as represented by the relationship between sales and
listings, continued to support moderate year-over-year price increases, regardless of
the price measure considered. Given housing affordability concerns in the GTA,
especially as it relates to mortgage qualification standards, we have seen tighter
market conditions and stronger price growth associated with higher density low-rise
home types and condominium apartments, which have lower average selling prices
compared to single detached homes," said Jason Mercer, TREB’s Director of Market
Analysis and Service Channels.
Source:Toronto Real Estate Board
New Down Payment Requirement Starting Feb. 15, 2016
TORONTO, December 12, 2015 – Finance Minister Bill Morneau on Feb.11, 2015 announced changes to the rules for
government-backed mortgage insurance to contain risks in the housing market, reduce taxpayer exposure and
support long-term stability. Effective February 15, 2016, the minimum down payment for new insured mortgages
will increase from 5 per cent to 10 per cent for the portion of the house price above $500,000. The 5 per cent
minimum down payment for properties up to $500,000 remains unchanged.
See below my graphics on the changes and my impact assessment on the housing market.
No Ontario communities outside Toronto to have land transfer tax
TORONTO, December 1, 2015 - There will be no extension of Municipal land transfer
tax beyond Toronto. Toronto has been charging municipal land transfer tax on top
provincial land transfer tax. The Ontario Real Estate Association was arguing against
the additional land transfer tax and as a result this and other consultations by the
Municipal Affairs Minister Ted McMeekin, he has decided not to extend the municipal
land transfer tax beyond Toronto.
February 8, 2012 - Canadian Real Estate Association (CREA) and five other major real estate boards
including Toronto Real Estate Board have developed a new index to measure the trend in house prices
and inflation in the housing market. There are a number of indices under MLS® HPI indices.
This is similar to Consumer Price Index (CPI) that is a measure of consumer price inflation.
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