Toronto Real Estate Trends to Watch Before Ordering Moving Supplies!

If you’ve taken a look at the Toronto real estate market recently, you might be feeling overwhelmed. How do you keep track of when is a good time to buy or sell? We know that you want to find the best new home, and that can take time. So before you order Toronto moving supplies, take a look at these trends happening in Toronto real estate.

Rental Prices are on the Rise

Demand for rental housing continues to outpace the supply across the GTA, which is driving up the price for rental units of all sizes. According to Urbanation, vacancy rates across the region are hovering around 1%. The rise in rent does vary across the region, with the City of Toronto and Etobicoke seeing the highest increases at 13.5% and 12.4% respectively. North York and Markham have the lowest increases at 7.8% and 6.8% respectively. If you’re looking to rent, you’ll have to be proactive in your search and consider being flexible with where you are hoping to live.

GTA Home Prices are Recovering

Whether you are looking to buy or sell, the Toronto housing market is starting to recover. Home prices went up 2% in June, with over 8,000 homes being sold that month. The average price for homes, including detached houses and condos, have been increasing as well, and the Toronto Real Estate Board suggests that the limited supply and rising prices could lead to an increase in bidding wars over the coming months. It’s definitely a great time to sell, but before you order your Toronto moving supplies, make sure you are ready to dive into a competitive market.

Expected Best Real Estate Bets for 2018

Wondering where the best investments are to make your real estate purchases? PWC has some ideas about emerging trends this year across Canada. Toronto office space remains at a premium, so this is projected to be a safe bet for anyone looking to invest. Urban Infill housing is also expected to be on the rise, especially in cities like Toronto and Vancouver where the amount of housing available is low, and people are looking for smaller homes. There’s also going to be a lot of demand for senior housing, with an aging population and more senior citizens looking to downsize out of their family home.

Whether you’re looking to move your home, your office, or just make a smart investment, the real estate market, especially in Toronto, can be complicated to navigate. While we can’t make that step easier, we can definitely help you once you find that perfect place! You can order all of the moving supplies into Toronto that you need online or by giving us a call.