Summary Notes of the Toronto Regional Real Estate Board's Economic Housing Outlook for 2020

• City of Toronto to make more emphasis on the Housing Near Transit
• Solutions for the 1 KM problem - The distance between the Train/Subway and a computers home or work. This part of the travel seems to cause the most traffic - solution build near the stations
• Toronto looking for different Housing Mixes
• Current Amount of Listings for Sale and Up Coming New Projects do not meet Current and future Demands
• Currently much more demand than available homes for Sale on the Real Estate Board - Seller's Market
• Most properties are being purchased with 20% down payment or more
• 2/3 of properties are being purchased with mortgages
• Downtown Toronto Condo market Will continue to rise quickly
• Condo Market, personal use is looking for 2 bedrooms units, while investors are still preferring 1-bedroom Units
• Most Large Investors are putting their Money in Industrial Lands
• Expected: 3-4 % Increase in Rental Rates
• Expected: 10% INCREASE in Real Estate Prices in Toronto and GTA

If buying, this year hurry before the price go up even further. If selling, it is going to be a good real estate year.

Contact me, Cristian Vergara, for more information at cvergara@sutton.com.