Monthly Archives: May 2018

millennial homes

How Millennials Feel About Home Ownership: Survey

The vast majority of Canadian millennials — 84 per cent — feel that owning a home is an important life milestone, according to Zoocasa, the real estate brokerage and online resource that recently released its 2018 Housing Report.

Millennials, however, are having a hard time reaching that goal, with high monthly rents in city centres like Toronto reducing their ability to save for a down payment.

“Homeownership remains a coveted goal for many Canadians. However, achieving this perceived life milestone remains as challenging as ever in 2018, as a crop of new policy measures, heating home prices, and a rising interest rate environment continues to present obstacles to homeownership,” says Zoocasa.
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FTHBI in Toronto

April Home Sales Down by Double Digits in GTA: TREB

The April real estate numbers are in for the Greater Toronto Area, revealing another double-digit plunge for sale and prices, compared to the same time last year. Activity in the region has fallen 31.1 per cent with 7,792 homes sold, prompting prices to soften 12.4 per cent to an average of $804,584.

This slower sales and price appreciation is in sharp contrast to the red-hot conditions that defined the spring 2017 real estate market, before the province stepped in with the Fair Housing Plan. The 16-part set of measures was designed to cool the Greater Golden Horseshoe, including regions such as Mississauga, Brampton and the Hamilton real estate market, as well as the City of Toronto.
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