Alka Pandit Real Estate
11160 Yonge Street Unit 3 L4S 1H5 Richmond Hill, ON, Canada

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Market Watch June 2019 The new President of the Toronto Real Estate Board, Michael Collins, announced that Greater Toronto Area REALTORS reported 8,860 sales through TREB's MLS System in June 2019, representing a 10.4 per cent increase compared to June 2018. Over the same time period, total new listings remained at a similar level for the month of June and active listings at month-end were down by 5.7 per cent. Sales and new listings statistics for the first half of 2019 co...mpared to the same period in 2018 painted a similar story to that of June. Sales were up by 8.5 per cent, while new listings were up by less than one per cent. This shows that sales accounted for a greater share of listings compared to last year, which means that competition between buyers increased, resulting in renewed price growth in many segments of the market. "As I start my term as President of the Toronto Real Estate Board, I am proud to say that the Greater Toronto Area continues to grow, in terms of employment, population and overall diversity. As people are attracted to our region from all around the world, they obviously need a place to live. Over the next year, as demand for ownership and rental housing continues to grow, my hope is that we will see more movement from policy makers on two fronts: alleviating the constrained supply of housing and providing more flexibility around demand-side policies, including the OSFI two percentage point mortgage stress test and allowable amortization periods on insured mortgages," said Mr. Collins. The overall average selling price in June 2019 was $832,703 up by three per cent compared to the average of $808,066 in June 2018. Price growth was driven by the higher density market segments, including semi-detached houses, townhouses and condominium apartments. The MLS Home Price Index Composite Benchmark was up by a similar annual rate of 3.6 per cent. For the first half of 2019, the average selling price was $810,661, representing an increase of 2.4 per cent compared to the first half of 2018. "Buyers started moving off the sidelines in the spring, as evidenced by strong year-over-year price growth throughout the second quarter. However, because we saw virtually no change in the number of new listings, market conditions tightened and price growth picked up, especially for more higher density home types, which, on average, are less-expensive than traditional detached houses and therefore provide more affordable housing options under the new OSFI stress test regime," said Jason Mercer, TREB's Chief Market Analyst.

GTA REALTORS Release May 2019 Stats Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS reported 9,989 transactions through TREB's MLS System in May 2019.* While this result represented a substantial increase of 18.9 per cent over the 15-year low in May 2018, it should be noted that the result was still below the average for month of May sales for the previous ten years, which stands at almost 10,300. The year-over-year uptick in s...ales experienced so far in the second quarter of 2019 reflects spring polling results from Ipsos (undertaken on behalf of TREB) suggesting that the share of likely home buyers in the Greater Toronto Area has edged upwards since the fall. "After a sluggish start to 2019, the second quarter appears to be reflecting a positive shift in consumer sentiment toward ownership housing. Households continue to see ownership housing in the GTA as a quality long-term investment as population growth from immigration remains strong and the regional economy continues to create jobs across diversity of sectors. However, sales activity continues to be below the longerterm norm, as potential home buyers come to terms with the OSFI mortgage stress test and the fact that listings continue to be constrained relative to sales," said Mr. Bhaura. The number of new listings entered into TREB's MLS System in May 2019 was up only slightly compared to May 2018, increasing by 0.8 per cent to 19,386. Year-over-year growth in new listings was far outstripped by year-over-year growth in sales. This means that market conditions continued to tighten in favour of sellers. The MLS Home Price Index (HPI) Composite benchmark price was up by 3.1 per cent on a year-over-basis. The average selling price for all home types combined was up by a similar 3.6 per cent to $838,540. Price growth was driven by the condominium apartment and townhouse market segments. "We are experiencing annual rates of price growth that are largely sustainable right now in the GTA above the rate of inflation, but in the single digits. If, however, we continue to see growth in sales outstrip growth in new listings, price growth will accelerate. This potential outcome underpins calls from TREB and other housing industry stakeholders to address roadblocks preventing a more sustainable and diverse supply of housing reaching the market. Many households are not comfortable listing their homes for sale because they feel that there are no housing options available to better meet their needs," said Jason Mercer, TREB's Chief Market Analyst.

Home ownership is more affordable than rent in these Toronto locales by | Jul 30, 2018 Toronto condo prices have reached historic highs with a 6.5% year-over-year increase in Q2 2018, up to $603,480. Accompanying record-low rental vacancy rates of below 1%, these factors are increasingly pushing home ownership as the more sensible path in sections of the red-hot market, according to a new analysis by real estate information firm Zoocasa.... Using second-quarter pricing data from the Toronto Real Estate Board, the study found that monthly payments for mortgage are lower than those of rent in 21 out of 35 City of Toronto neighborhoods. This is assuming a 20% down payment, a 3.05% mortgage interest rate, and a 25-year amortization, while not taking into account utility costs, insurance, condo fees, and property taxes. Read more: Will large-scale transit plan make condo investment lucrative again? The following neighborhoods (with TREB notations) have average monthly mortgage payments lower than the average rent: * W05: Black Creek, York University Heights - buying saves $606/month (average rent of $1,939; average mortgage of $1,333) * W09: Willowridge, Martingrove - buying saves $600/month (average rent of $2,107; average mortgage of $1,507) * E10: West Hill, Centennial Scarborough - buying saves $576/month (average rent of $1,650; average mortgage of $1,074) * W10: Rexdale-Kipling - buying saves $551/month (average rent of $1,834; average mortgage of $1,283) * E11: Malvern, Rouge - buying saves $490/month (average rent of $1,751; average mortgage of $1,261) Meanwhile, paying for a mortgage and paying for rent is roughly at the same level in these locales: * C07: Willowdale West - buying saves $14/month (average rent of $2,341; average mortgage of $2,327) * C14: Willowdale East - buying saves $12/month (average rent of $2,246; average mortgage of $2,234) * C13: Don Mills, Victoria Village - buying saves $11/month (average rent of $2,064; average mortgage of $2,054) * C15: Hillcrest Village, Bayview Village - buying saves $10/month (average rent of $2,011; average mortgage of $2,001) * C01: Downtown - renting saves $51/month (average rent of $2,563; average mortgage of $2,614) Related stories: Non-Toronto markets in Ontario see accelerated home price growth Toronto’s stock of commercial and industrial space is rapidly depleting

https://www.bloomberg.com//builders-scrap-pre-sold-toronto

February 6, 2018 -- Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS reported 4,019 residential transactions through TREB's MLS System in January 2018. This result was down by 22 per cent compared to a record 5,155 sales reported in January 2017. The number of new listings entered into TREB's MLS System amounted to 8,585 a 17.4 per cent increase compared to 7,314 new listings entered in January 2017. However, it is important t...o note that the level of new listings was the second lowest for the month of January in the past 10 years. "TREB released its outlook for 2018 on January 30th. The outlook pointed to a slower start to 2018, especially compared to the record-setting pace experienced a year ago. As we move through the year, expect the pace of home sales to pick up, as the psychological impact of the Fair Housing Plan starts to wane and home buyers find their footing relative to the new OSFImandated stress test for mortgage approvals through federally regulated lenders," said Mr. Syrianos. The MLS Home Price Index Composite Benchmark was up by 5.2 per cent year-over-year. This annual rate of growth was driven by the condominium apartment market segment, with doubledigit annual growth versus the single-family segment, with prices essentially flat compared to last year. The overall average selling price was down by 4.1 per cent year-over-year to $736,783. This decline was weighted toward the detached segment of the market. In the City of Toronto, the average selling price was up for all home types except for detached houses. "It is not surprising that home prices in some market segments were flat to down in January compared to last year. At this time last year, we were in the midst of a housing price spike driven by exceptionally low inventory in the marketplace. It is likely that market conditions will support a return to positive price growth for many home types in the second half of 2018. The condominium apartment segment will be the driver of this price growth," said Jason Mercer, TREB's Director of Market Analysis.

https://www.bloomberg.com//canada-december-housing-starts-

January 4, 2018 -- Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS reported 92,394 sales through TREB's MLS System in 2017. This total was down 18.3 per cent compared to the record set in 2016. Record sales in Q1 were followed by a decline in Q2 and Q3 after the Ontario Fair Housing Plan (FHP) was announced. The pace of sales picked up in Q4, as the impact of the FHP started to wane, and some buyers arguably brought forward thei...r home purchase in response to the new OSFI stress test guidelines effective January 1, 2018. "Much of the sales volatility in 2017 was brought about by government policy decisions. Research from TREB, the provincial government and Statistics Canada showed that foreign home buying was not a major driver of sales in the GTA. However, the Ontario Fair Housing Plan, which included a foreign buyer tax, had a marked psychological impact on the marketplace. Looking forward, government policy could continue to influence consumer behavior in 2018, as changes to federal mortgage lending guidelines come into effect," said Mr. Syrianos. The average selling price for 2017 as a whole was $822,681 up 12.7 per cent compared to 2016. This annual growth was driven more so by extremely tight market conditions during the first four months of the year. In the latter two-thirds of 2017, fewer sales combined with increased listings resulted in slower price growth. In December, the MLS Home Price Index (HPI) Composite Benchmark was up by 7.2 per cent year over year, and the overall average selling price was up by 0.7 per cent year over year. "It is interesting to note that home price growth in the second half of 2017 differed substantially depending on market segment. The detached market segment the most expensive on average experienced the slowest pace of growth as many buyers looked to less expensive options. Conversely, the condominium apartment segment experienced double-digit growth, as condos accounted for a growing share of transactions," said Jason Mercer, TREB's Director of Market Analysis.

GTA REALTORS Release November Stats TORONTO, ONTARIO, December 5, 2017 Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS reported 7,374 transactions through TREB’s MLS System in November 2017. This result was up compared to October 2017, bucking the regular seasonal trend. On a year-over-year basis, sales were down by 13.3 per cent compared to November 2016. New listings entered into TREB’s MLS System in November 2017 amounted... to 14,349 up by 37.2 per cent compared to November 2016, when the supply of listings was very low from a historic perspective. We have seen an uptick in demand for ownership housing in the GTA this fall, over and above the regular seasonal trend. Similar to the Greater Vancouver experience, the impact of the Ontario Fair Housing Plan and particularly the foreign buyer tax may be starting to wane. On top of this, it is also possible that the upcoming changes to mortgage lending guidelines, which come into effect in January, have prompted some households to speed up their home buying decision, said Mr. Syrianos. The MLS Home Price Index (HPI) composite benchmark price was up by 8.4 per cent on a year-over-year basis in November 2017. The average selling price for all home types combined was down by two per cent compared to November 2016, due in large part to a smaller share of detached home sales versus last year. On a year-to-date basis, the average selling price was up by 13.4 per cent compared to the same period last year. High density home types continued to lead the way in terms of price growth, with the average condominium apartment price up by double-digits compared to November 2016. Changes in market conditions have not been uniform across market segments. In line with insights from consumer polling undertaken by Ipsos in the spring, we are still seeing seller’s market conditions for townhouses and condominium apartments in many neighbourhoods versus more balanced market conditions for detached and semi-detached houses. We will have more insights to share about consumer intentions for 2018 at the end of January when TREB releases its third annual Market Year in Review and Outlook report, said Jason Mercer, TREB’s Director of Market Analysis. See more

TORONTO, ONTARIO, October 4, 2017 Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS reported 6,379 sales through TREB’s MLS System in September 2017. This result was down by 35 per cent compared to September 2016. The number of new listings entered into TREB’s MLS System amounted to 16,469 in... September up by 9.4 per cent year-over-year. The improvement in listings in September compared to a year earlier suggests that home owners are anticipating an uptick in sales activity as we move through the fall. Consumer polling undertaken for TREB in the spring suggested that buying intentions over the next year remain strong. As we move through the fourth quarter we could see some buyers moving off the sidelines, taking advantage of a better-supplied marketplace, said Mr. Syrianos. The average selling price in September 2017 was $775,546 up 2.6 per cent compared to September 2016. The MLS Home Price Index (HPI) composite benchmark was up by 12.2 per cent on a year-over-year basis. A key reason for the difference in annual growth rates between the average price and the MLS HPI composite is the fact that detached homes the most expensive market segment on average accounted for a smaller share of overall transactions this year compared to last. With more balanced market conditions, the pace of year-over-year price growth was more moderate in September compared to a year ago. However, the exception was the condominium apartment market segment, where average and benchmark sales prices were up by more than 20 per cent compared to last year. Tighter market conditions for condominium apartments follows consumer polling results from the spring that pointed toward a shift to condos in terms of buyer intentions, said Jason Mercer, TREB’s Director of Market Analysis. See more

August 3, 2017 -- Toronto Real Estate Board President Tim Syrianos announced that Greater Toronto Area REALTORS reported 5,921 residential transactions through TREB's MLS System in July 2017. This result was down by 40.4 per cent on a yearover- year basis, led by the detached market segment both in the City of Toronto and surrounding regions.While sales were down, the number of new listings reported were only slightly (+5.1 per cent) above last year's level. "A recent rel...ease from the Ontario government confirmed TREB's own research which found that foreign buyers represented a small proportion of overall home buying activity in the GTA. Clearly, the year-over-year decline we experienced in July had more to do with psychology, with would-be home buyers on the sidelines waiting to see how market conditions evolve," said Mr. Syrianos. "Summer market statistics are often not the best indicators of housing market conditions. We generally see an uptick in sales following Labour Day, as a greater cross-section of would-be buyers and sellers start to consider listing and/or purchasing a home. As we move through the fall, we should start to get a better sense of the impacts of the Fair Housing Plan and higher borrowing costs," said TREB CEO John DiMichele. The MLS Home Price Index (HPI) Composite Benchmark price was up by 18 per cent on a year-over-year basis. However, the Composite Benchmark was down by 4.6 per cent relative to June. Monthly MLS HPI declines were driven more so by single-family home types. The average selling price for all home types combined was up by five per cent year-over-year to $746,218. "Home buyers benefitted from more choice in the market this July compared to the same time last year. This was reflected in home prices and home price growth. Looking forward, if we do see some would-be home buyers move off the sidelines and back into the market without a similar increase in new listings, we could see some of this newfound choice erode. The recent changes in the sales and price trends have masked the fact that housing supply remains an issue in the GTA," said Jason Mercer, TREB's Director of Market Analysis.