TREB Outlook examines what 2016 holds for the housing market

The Toronto Real Estate Board (TREB) hosted the TREB Outlook 2016 presentation to announce their predictions for the Greater Toronto Area’s (GTA) housing market. Representatives from the Building Industry and Land Development Association (BILD), including President Bryan Tuckey, and RealNet Canada president, George Carras, were in attendance. Rising prices, affordability, down payment statistics, mortgage rule changes, and much more was discussed!

Via TREB

A lot was discussed at the TREB Outlook and the event made some waves on Twitter! See below for our #TREBOutlook roundup.

.@TREBhome President @mark_mclean says well-maintained public infrastructure is vital to residents & businesses across the GGH. #TREBOutlook

— Alison Wood (@AlisonAWood) January 18, 2016

100,000 people come to the GTA every year, so 36,000 homes must be built every year, says @bildpres #treboutlook https://t.co/xlMNl5nmok — BILD (@bildgta) January 18, 2016

"Millennials are more likely to buy a new home than resale." #TREBOutlook pic.twitter.com/0DH89i3R5R

— TREB (@TREBhome) January 18, 2016

Jason Mercer: Detached homes account for lion's share over TREB market area. Condos account for over 50% of sales in Toronto. #treboutlook — Claude Boiron (@BoironGroup) January 18, 2016

The #1 problem Canadian Real Estate is facing is perception. #TREBOutlook pic.twitter.com/elXOUgntf1

— TREB (@TREBhome) January 18, 2016

Key areas of improvement: transportation, infrastructure & improved housing options & affordability. #TREBOutlook pic.twitter.com/4HUXl5m7ek — TREB (@TREBhome) January 18, 2016

“To sustain this significant economic driver, home ownership must maintain affordable over the long term.” #TREBOutlook

— TREB (@TREBhome) January 18, 2016

"The future is going to be taller, it's going to be smaller and more expensive." #TREBOutlook @RealNet_Canada @bildgta

— TREB (@TREBhome) January 18, 2016

#bildgta: NIMBYism is rampant and a major barrier to intensification. Not just against high rises, but even with town houses. #treboutlook — Claude Boiron (@BoironGroup) January 18, 2016

#Treboutlook Average New home price has nearly tripled in 10 years. #realnet

— Gail Reeves (@gareeves) January 18, 2016

@TREBhome projects that home prices will continue to rise going into 2016. #treboutlook — Wasim Jarrah (@WasimJarrah) January 18, 2016

RT @trebhome: "69% of first time homebuyers are between 18- 34 years old." #TREBOutlook

— BILD (@bildgta) January 18, 2016

"On avg. residents from the GTA will have 28% of their purchase price covered by a down payment." #TREBOutlook — TREB (@TREBhome) January 18, 2016