Tag Archives: Golden Horseshoe

The GTA housing market in January 2020

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The GTA housing market in January 2020

Picking up where 2019 left off, 2020 began with strong sales growth, dwindling housing supply and high demand for ownership and rental housing.

January 2020 continued the monthly trend of increased sales coupled with a dip in listings supply. More than 4,580 sales were reported through Toronto Regional Real Estate Board’s MLS system in January 2020, up by 15 per cent compared to January 2019. However, the number of new listings entered into TRREB’s MLS system in January was down 17.3 per cent when compared to the same time last year.

Increased sales up against a constrained supply of listings resulted in increased competition between buyers and stronger price growth in the first month of 2020. The average selling price for all home types combined was up by 12.3 per cent to $839,363, compared to $747,175 in January 2019.

When it comes to an outlook for 2020, without seeing a significant increase in supply, it is likely that new listings will not keep up with sales growth, and over the next year an acceleration in price growth can be expected.

TRREB calls on all levels of government to create concrete housing plans for the next decade

Since entering a new year and decade, tighter market conditions with increased competition between buyers and pent-up demand for both ownership and rental housing has remained an ongoing phenomenon.

Persistent demand for housing in the GTA market can be attributed to a strong regional economy, including low unemployment, steady population growth and low borrowing costs. However, part of the answer to satisfying the issue of ownership housing is the construction of more mid-density housing to provide GTA buyers with more affordable housing options.

TRREB has demonstrated an ongoing commitment in calling on all levels of government to create concrete housing plans. In fact, since 2015, our organization has released an annual Market Year in Review & Outlook Report to shed light on the issues discussed above, using clear and hard evidence, as well as to offer solutions to other major regional challenges in the GTA, including infrastructure requirements and transportation and traffic issues.

The 2020 edition of the report, subtitled “The Time is Now” is all about planning for growth in the Greater Toronto Area and broader Greater Golden Horseshoe.

With the release of this report each year, TRREB continues to make great strides in working with policymakers and industry stakeholders to present fresh ideas on what is critically needed to accommodate the increasing population across the Greater Golden Horseshoe.

To download the Toronto Regional Real Estate Board Market Year in Review & Outlook Report, visit TRREB.ca. We hope you enjoy reading the report and join in the dialogue.

Michael Collins is president of the Toronto Regional Real Estate Board, a professional association that represents 54,500 professional realtor members in the Greater Toronto Area. You can contact him at trebpres@trebnet.com.

For updates on the real estate market, visit trebhome.com.

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Destination Ontario: Bloomin’ Gorgeous

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Destination Ontario: Bloomin’ Gorgeous

Springtime in Niagara

Some 12,000 years ago, the falls at Niagara were defined when melting glaciers formed the Great Lakes. The rushing waters that ran downhill from one lake (Lake Erie) to another (Lake Ontario) carved out a river, and at one point passed over a steep, cliff -like formation – the Niagara escarpment. As the water began to wear its way back up the river, the deeply cut path that was left behind is now known as the Niagara Gorge.

The southern end of the Golden Horseshoe, Niagara Region encompasses the cities of St. Catharines, Thorold and Welland, as well as the charming towns of Niagara-on-the- Lake, Grimsby and Fort Erie. The City of Niagara Falls is a vibrant community that affords residents with a plethora of opportunities in the areas of recreation, arts and culture. While urban amenities are in abundance, there’s still a relaxed stillness that comes with living in this beautiful area.

EXPLOSIVE BEAUTY
Come spring, it’s a visual flower feast. A drive through the Niagara region is an annual ritual for many, as the orchards are bursting with delicate blossoms on fruit-bearing trees. The Japanese flowering cherry trees, found at the Botanical Gardens, Queenston Heights Park and Kingsbridge Park are expected to bloom by mid-May.

Located along the scenic Niagara Parkway is the Floral Clock, which was constructed in 1950. The clock’s face, complete with working mechanisms, is planted two times per year with 15,000 to 20,000 carpet plants arranged in beautiful designs. It is the second most photographed highlight in the region.

Floral clock

Created in 1967 to commemorate Canada’s Centennial Year, the fragrant Lilac Garden is located north of the Floral Clock and features 200 different lilac varieties in a range of colours.

The Botanical Gardens is located just north of Niagara Falls on the Niagara Parkway. For more than 80 years, visitors have found solace while strolling the beautiful gardens. Also located here is the Butterfly Conservatory, and the world-famous rose garden that features more than 2,400 varieties.

Butterfly Conservatory

The first fireworks’ display took place on September 14th, 1860. In celebration of the 25th anniversary of the annual Falls Fireworks Series, Niagara Parks has expanded their schedule to include 111 fireworks daily displays throughout the summer. Special holiday shows are scheduled for the Memorial Day long weekend (May 25 to 28).

DAY TRIPPING
View the falls from the water, the air or the ground. No matter your vantage point, it’s an awe-inspiring experience – no matter the time of year.

Less than a half hour drive from the Falls, at the mouth of the Niagara River, is the quaint 18th century town of Niagara-on-the-Lake, often referred to as Ontario’s loveliest town. Home to the renowned Shaw Festival, the town is an eclectic dining, shopping and sightseeing experience.

Niagara-on-the-Lake

Old Fort Erie, Fort George, Brock’s Monument and Laura Secord’s homestead are just a few of the landmarks that will delight history buffs. The area was also an important stop on the legendary 1800s Underground Railroad.

In addition to slots and gaming tables, Fallsview Casino Resort showcases international performers.

Niagara boasts close to 100 parks and several championship courses, including Legends on the Niagara, Oak Hall Par 3 and the Whirlpool Golf Course, which was designed by golf architect Stanley Thompson and is rated as one of Canada’s most highly rated public golf courses.

CLIMATE CONTROLLED

Because of the two large bodies of water, Niagara Region is considered to be a moderate climate zone. Southern Ontario is roughly at the same latitude as southern France (Provence). The area’s temperatures make it ideal for growing tender fruit, and the conditions are ideal for ripening many varieties of grapes.

The Niagara Peninsula is one of four recognized viticultural areas by the VQA (Vintners Quality Alliance) in the Ontario Wine Industry. The European-style vineyards and wineries attract visitors from around the world. Many offer full tours of their facilities, and some have onsite dining, which feature sumptuous menus paired with their own VQA vintages.

The extended warm-weather season is also popular with boating, golf, hiking and biking enthusiasts.

Photography, courtesy of Niagara Falls Tourism

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