Since the end of April 2017, we have heard many reports on how the Ontario Fair Housing Plan has changed the face of Toronto's real estate market. We have heard diverse reports ranging from dire as the market has stalled and prices have dropped dramatically, to reports that there has been little impact on the Toronto market other than fewer sales.
I am going to dedicate myself to assist you in sorting out what effect the new legislature has had on the industry. I will not just give you blanket statements like we are hearing from Toronto's media but focus on each downtown and midtown Toronto neighbourhoods so you may be able to see the changes based on the actual sales that have occurred in each area.
The first neighbourhood I will attack is The Beaches in East End, Toronto. This neighbourhood tends to have more reasonably priced homes.
I will breakdown by month beginning with March 21 - April 20 (the month prior to the changes) and moving through the 1st six months of the changes, as well as comparing with the year prior. We will explore the effects in both sales and prices and compare each category so you may see the real picture for this neighbourhood.
If you find this information useful, look for Davisville Village and Mount Pleasant Report next week. In the next few weeks, I will cover all of the central neighbourhoods to give you true numbers for those looking to buy and sell. I think it is critical for all those who are interested in Toronto real estate, including real estate agents and brokers, to understand the changes and how it has affected the market.
As you read this, feel free to contact me if you have any questions ....