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Toronto Real Estate Board - News

May Housing Market Charts Available
May Housing Market Charts Available
Posted: June 4, 2018, 3:49 pm
Toronto Real Estate Board President Tim Syrianos announced that TREB Commercial Members reported 210,579 square feet of combined industrial, commer...
Toronto Real Estate Board President Tim Syrianos announced that TREB Commercial Members reported 210,579 square feet of combined industrial, commercial/retail and office space leased through the TREB MLS® System, on a per square foot net basis with pricing disclosed, in May 2018.
Posted: June 4, 2018, 2:00 pm
Greater Toronto Area REALTORS® reported 7,834 sales through TREB's MLS® System in May 2018. This result was down by 22.2 per cent compared to May 2...
Greater Toronto Area REALTORS® reported 7,834 sales through TREB's MLS® System in May 2018. This result was down by 22.2 per cent compared to May 2017.
Posted: June 4, 2018, 11:01 am

York Region councillors are demanding new tax powers from the province, and they have their eyes set on the municipal land transfer tax (MLTT). If ...

York Region councillors are demanding new tax powers from the province, and they have their eyes set on the municipal land transfer tax (MLTT). If implemented, the tax would add over $15,000 to an average priced York Region home, impacting housing affordability for all home buyers and making the Canadian dream of home ownership less achievable for thousands of young buyers. This could set a dangerous precedent for housing affordability across the wider Greater Toronto Area and the rest of the province. 

The Ontario Real Estate Association (OREA) and the Toronto Real Estate Board (TREB) are urging MPP candidates in York Region to say ‘no’ to another tax on home buyers, noting the effects of such a tax will be as detrimental as they have been on Toronto. This tax does nothing to address the real issue facing the GTA housing market: the need for more supply. This sort of tax is also an unreliable revenue source.

 

“It’s no secret that municipalities across Ontario have been asking the provincial government for new taxing powers,” said Tim Syrianos, President of TREB. “York Region home buyers are already charged a provincial land transfer tax, so by adding a municipal tax, the Region will double the tax burden on local families. If local councillors get their way, home buyers will be forced to pay $15,000 more in land transfer taxes on the average priced home in York Region.”

 

When the City of Toronto first implemented the MLTT in 2008, home buyers were hit with a big tax increase. Moving from one home to another suddenly became costlier for potential home sellers, by adding thousands of dollars to every transaction. This has caused many home owners to stay put, further limiting supply of the critical missing middle (that fills the gap between single family homes and high riseshousing types in the marketplace.

 

We’ve been down this road before, with municipalities asking for new taxing powers and the provincial government considering their requests,” said David Reid, President of OREA. “Each time, Realtors have stood up for young families and opposed a tax. Home buyers need relief, not new taxes. We hope voters in York Region will consider where their local candidates stand on this issue before casting their ballot on June 7th.”

 

In 2015, Ontario Realtors, home buyers and sellers sent 34,000 letters to provincial policy makers, demanding a stop to the spread of the MLTT outside of Toronto. With the election exactly one week away, Ontario Realtors are urging all provincial and York Region provincial candidates to show their support for Ontario home owners, buyers and sellers by opposing the spread of the MLTT beyond Toronto. They are also asking all Ontarians to email their local candidates urging them to oppose the tax.

 

Spokesperson Availability:

 

Media are invited to attend a provincial election debate at the Toronto Congress Centre from 2:30 to 3:15 p.m. on May 31, 2018, hosted by the Toronto Real Estate Board (TREB) and the Ontario Real Estate Association (OREA). The discussion will focus on key real estate, housing and other major election issues that have a significant impact on the Greater Toronto Area.

 

Following the debate, a news conference will be held jointly by TREB and OREA regarding provincial changes to grant municipalities, including those in the GTA, new taxing powers, such as the imposition of a Municipal Land Transfer Tax in York Region.

Posted: June 1, 2018, 1:52 pm
April Housing Market Charts Available
April Housing Market Charts Available
Posted: May 3, 2018, 2:23 pm
Toronto Real Estate Board President Tim Syrianos announced that TREB Commercial Network Members reported 439,206 square feet of combined industrial...
Toronto Real Estate Board President Tim Syrianos announced that TREB Commercial Network Members reported 439,206 square feet of combined industrial, commercial/retail and office space leased through the TREB MLS® System, on a per square foot net basis with pricing disclosed, in April 2018.
Posted: May 3, 2018, 1:24 am
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,792 sales through TREB's MLS® System in A...
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,792 sales through TREB's MLS® System in April 2018. 
Posted: May 3, 2018, 1:22 am
The Toronto Real Estate Board is encouraged that Mayor John Tory is making housing affordability a priority for himself and for City staff.
The Toronto Real Estate Board is encouraged that Mayor John Tory is making housing affordability a priority for himself and for City staff.
Posted: April 23, 2018, 7:54 pm
Toronto Real Estate Board President Tim Syrianos announced that the average selling price for condominium apartments sold through TREB’s MLS® Syste...
Toronto Real Estate Board President Tim Syrianos announced that the average selling price for condominium apartments sold through TREB’s MLS® System was up by nine per cent year-over-year to $533,447 in the first quarter of 2018.
Posted: April 16, 2018, 2:31 pm
Toronto Real Estate Board President Tim Syrianos announced that average rents for one-bedroom and two-bedroom condominium apartment rental units we...
Toronto Real Estate Board President Tim Syrianos announced that average rents for one-bedroom and two-bedroom condominium apartment rental units were up well above the rate of inflation on a year-over-year basis in the first quarter of 2018.
Posted: April 16, 2018, 2:31 pm
Today, the Toronto Real Estate Board will host the third of three Regional Economic Summits in York Region (Durham Region was hosted on March 20) t...
Today, the Toronto Real Estate Board will host the third of three Regional Economic Summits in York Region (Durham Region was hosted on March 20) to discuss its market outlook, with updated consumer polling data from Ipsos Public Affairs and results from a recent economic impact analysis completed by Altus Group.
Posted: April 9, 2018, 1:28 pm
March Housing Market Charts Available
March Housing Market Charts Available
Posted: April 4, 2018, 4:36 pm
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,228 residential transactions through TREB...
Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS® reported 7,228 residential transactions through TREB’s MLS® System in March 2018.
Posted: April 4, 2018, 12:50 am
Toronto Real Estate Board President Tim Syrianos announced commercial leasing and sales transactions reported through TREB’s MLS® System for the fi...
Toronto Real Estate Board President Tim Syrianos announced commercial leasing and sales transactions reported through TREB’s MLS® System for the first quarter of 2018.
Posted: April 4, 2018, 12:50 am
Today, the Toronto Real Estate Board will host the first of two Regional Economic Summits in Durham Region (York Region will be hosted on April 9) ...
Today, the Toronto Real Estate Board will host the first of two Regional Economic Summits in Durham Region (York Region will be hosted on April 9) to discuss its market outlook, with updated consumer polling data from Ipsos Public Affairs and results from a recent economic impact analysis completed by Altus Group.
Posted: March 21, 2018, 6:33 pm

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