Trish Bongard Godfrey

Quirky Facts from TREB's Year-in-Review Report

16 February 2016
Trish Bongard Godfrey

The Toronto Real Estate Board released its first ever year-in-review and market outlook report last month. The report summarizes trends in the real estate market last year, as well as predictions for the months ahead.

Overall, the news is good. 2015 was a record year for home sales in Toronto, with 2016 expected to perform similarly. Prices are still rising, though Buyers will likely continue to benefit from historically low borrowing costs. With demand for homes outpacing supply, it’s still a Seller’s market.

The report also includes some fascinating data from an Ipsos poll commissioned by TREB in November 2015. Here are four charts that particularly caught my eye:

Home ownership is a popular investment. Roughly 1 in 3 GTA households GTA is very likely or somewhat likely to purchase a home this year.

No surprise, most Buyers favour detached and other low-rise homes. But demand for condos is significant, especially among young Buyers entering the market and seniors seeking to downsize.

Buyers are leveraging a wide variety of sources for their down payments. The above chart illustrates this, especially that giant slice of “Other.” Who knows what that might include?

Less than $20K? As a veteran of many home renovations, I think this chart might say more about new homeowners’ optimism than it does about renovation reality!

If you want to know more, you can read the full report here

Contact me anytime at (416) 925-9191 or to discuss your options as a Buyer or Seller.