TREB Releases Monthly Market Figures Reported By GTA REALTORS® Release June Stats
July 5, 2018
2018 MARKET YEAR IN REVIEW AND OUTLOOK REPORT
TREB is proud to announce the release of their third annual Market Year in Review & Outlook Report.
This year’s report, subtitled Steering the Way to Housing & Transportation Diversity in the Greater Golden Horseshoe, explores some of the most important issues affecting our industry today.
A must-read for those looking to gain new insight on the GTA housing market, as well as the policies and economic issues that impact the wider GGH, this in-depth report is informed by hard-data and ground breaking research from TREB and our partners, and will engage you from cover to cover.
Some of the exciting content and topics you can read about in this year’s report include:
- Market Year in Review: The Market in 2017
A look at how the market unfolded in 2017, featuring a review of TREB MLS® System statistics and TREB-commissioned Ipsos surveys of homeowners
- Market Outlook: Looking Ahead to 2018
Features a forecast of the year to come, in terms of sales, listings and home prices. This outlook will also include results of a TREB-commissioned Ipsos survey of intending home buyers and sellers
A look at the economic impact (spin-off spending, job creation, taxes paid) of resale and new home sales in the GTA
- Submissions from government policymakers on their approach to better transit and transportation policy, new research from the C.D. Howe Institute on addressing the issue of mobility and traffic congestion, and an exciting take from the Toronto Region Board of Trade on the smooth movement of people and goods
- Research from the Canadian Centre for Economic Analysis on the missing middle and creating diverse housing stock in the Greater Golden Horseshoe
- A glimpse at the New Home and Commercial market segments
2018 PROSPECTIVE HOME BUYERS SURVEY
Canada Mortgage and Housing Corporation (CMHC) has released the 2018 Prospective Home Buyer Survey (#PHBS2018). This survey, the first of its kind for CMHC, explores the dynamics of home buying intentions for three groups of future homebuyers, including First-Time Buyers, Previous Owners and Current Owners, and provides a comprehensive review of overall awareness and understanding of the home buying process.
“The Survey findings provide insights and valuable information for mortgage professionals about their future clients and their needs,” said Nathalie Fredette, Vice-President, Client Relationship Management. “It brings awareness amongst the industry and contributes to financial literacy by helping Canadians make informed and responsible home buying decisions.”
Top motivators for buying a home
- Improved accessibility (less physical obstacles and barriers) and investment opportunity were noted as top motivators across all groups.
- Changes to mortgage regulations and concerns about possible future interest rate increases were not among the top motivators for prospective home buyers in 2017.
- Over four-in-ten First-Time Buyers and Previous Owners say they would delay their home purchase if they were not able to find their ideal home, with a fairly similar proportion saying they would be willing to compromise on the size of the home and location.
- An existing move-in-ready home is the top choice for all groups of prospective home buyers, followed by a newly constructed home, noted by approximately one-fifth of First-Time Buyers and Previous Owners.
Financing and saving for a down payment
- Among all groups, the two most common actions completed one to two years prior to the purchase of a home are saving for a down payment and determining what type of home to buy.
- About one-in-four prospective home buyers stated that they would be very likely to consider delaying their purchase in the event of an increase in interest rates.
- The majority of future home buyers intend to obtain a mortgage to finance their home purchase, with First-Time Buyers showing higher incidence compared to Previous Owners and Current Owners.
- Across all groups of future home buyers, more than six-in-ten say they are likely to have a financial buffer in case their expenses change in the future.
2017 CHINESE PROPERTY INVESTMENT FOCUS: CANADA
Discover the top viewed and most enquired cities and provinces in Canada by Chinese buyers in 2016, and see where Chinese buyers are searching from for Canada property.