News

The Toronto Real Estate Board will release its annual Market Year in Review & Outlook Report today at its Economic Summit being held at Toronto’s Parkview Manor.

Toronto Real Estate Board President Larry Cerqua announced that condominium apartment sales reported by Greater Toronto REALTORS® in the fourth quarter of 2016 were up by 22.3 per cent year-over-year to 6,831. Over the same period of time, new listings were down by 13.4 per cent.

Toronto Real Estate Board President Larry Cerqua announced continued tightening in the GTA condominium apartment rental market in the fourth quarter of 2016.

The Toronto Real Estate Board is encouraged that the City of Toronto’s Budget Committee has decided not to currently move forward with proposed Land Transfer Tax increases on first-time home buyers; however, TREB remains concerned about a proposal to increase the Land Transfer Tax by $750 for all other buyers, and is also calling for changes that will help first-time buyers.

In advance of its presentation to the City of Toronto’s Budget Committee today, the Toronto Real Estate Board (TREB) is launching a website (www.anotherobstacle.ca) to shed light on proposed changes to the City’s Land Transfer Tax.  

Toronto Real Estate Board President Larry Cerqua announced that the total amount of leased space reported through TREB’s MLS® System by TREB Commercial Network Members in the fourth quarter of 2016 was down on a year-over-year basis. 

Toronto Real Estate Board President Larry Cerqua announced that 2016 was a second consecutive record year for home sales.