It looks like the City of Toronto is planning on starting the next decade on a high note with the approval of the ambitious (and pricey) HousingTO 2020-2030 Action Plan.
The Greater Toronto Area’s rental market is struggling with a lack of supply and increasing rent. Looking ahead to 2020, it looks like the affordability struggles will continue.
As this is my final article of the year, I thought I’d reflect a little bit on 2019 and share my thoughts on what the new decade may hold for Toronto real estate.
As we approach the beginning of a new decade, it’s fair to say that 2019 was a year of recovery for Canada’s resale housing market. Now let’s take a look at what 2020 may hold.
The monthly report based on MLS systems across the country found that activity increased 0.6% month-to-month, making November the ninth straight monthly gain, with 20% more sales than the six-year low hit in February 2019.December and January are the slowest months of the year for residential real estate, and for some people, this makes it the ideal time to seriously hunt for a home and make an offer.Every year, more and more people in the Greater Toronto Area call an apartment home, whether it’s a rental or a condo unit. The thing about these spaces is that they can be on the smaller side compared to a single-family home. KPMG recently shared the results of its Millennials and Retirement poll, focusing on the homeownership concerns young Canadians have, and they’ve now released some results pertaining to concerns about retirement.
As peak millennials find themselves in their 30s, it’s possible that there will be even more stress on the single-family housing market in 2020, according to a recent report by Royal LePage.
If you’ve been following our seasonal home maintenance checklists, especially for October and November, then your home should be pretty prepared for winter. If not, then make sure you complete everything on this list before the end of the year!