Real Estate

What are the new trends in Toronto real estate?

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  • Jul 26th, 2019 2:55 pm
[OP]
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Jan 21, 2017
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What are the new trends in Toronto real estate?

Just curious to get everyone s take. I'm not asking for predication on how the housing market might crash or be up by 20% in a year.

Simply asking for overall consumer/demographic/investor trends.

Ie. 1+1 condo was a popular trend back in the day. But now 2 bed 2 bath seems to be all the rage. Because folks are having kids and need more space.

Companies continue to move downtown to attract talent (Microsoft, Apple). That would have pretty big implications on demand for housing in areas closer to the office.

Stress test is pushing consumers buying power down and now have pooled a lot of consumers into the bitter condo category (vs small house)

That's my take so far
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Sep 7, 2018
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Studios are very cash flow positive. High rent compared to size and cost.

Excellent for workaholics who just need a place to sleep.
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Aug 1, 2006
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Toronto
While Toronto proper home prices on average have stabilized or getting a small uptick, this cannot be said about house prices (especially for newer builds) in areas like Willowdale/North York (still Toronto), Richmond Hill and Markham which are getting killed. I have seen houses sit for almost 2 years and price cuts to the tune of $1M or more below what was originally asked for in 2017. And yet the houses still sit without buyers.
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Mar 17, 2019
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my 2 cents:

a) tech market in Toronto/GTA is top 5 in north america and driving alot of millenial jobs and they need a place to live. investing in condos along the subway/GO line will ensure high rent and steady appreciation or in dense commercial/residential pockets like toronto core, or even Square one mississauga, Markham.
b) renovation projects in areas like the beaches, long branch, leslieville aren't as lucrative as pre 2018, it has slowed down a bit but taht means a good time to buy renovation lots/old bungalows.
c) detached homes with average to below average finishes are selling below market value right now especially in the suburbs like mississauga...once over 1 million detaches can be foudn for 800k It is a GREAT time to buy a fixer upper in the suburbs and renovate. However good quality homes still selling for a premium.
d) condo prices are increasing while detached homes are dropping...once they get close in value folks will jump back into the detached market.
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icecanadian wrote:
Jul 22nd, 2019 2:38 pm
While Toronto proper home prices on average have stabilized or getting a small uptick, this cannot be said about house prices (especially for newer builds) in areas like Willowdale/North York (still Toronto), Richmond Hill and Markham which are getting killed. I have seen houses sit for almost 2 years and price cuts to the tune of $1M or more below what was originally asked for in 2017. And yet the houses still sit without buyers.
Detach is hard to move, but townhouses and semis are booming.
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Jan 29, 2010
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The cheaper the property, the hotter the market is. Semis and sub 800k detached in Vaughan are selling like hotcakes. The condos near the Maple GO are also sold out.
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phaze416 wrote:
Jul 22nd, 2019 3:00 pm
my 2 cents:

a) tech market in Toronto/GTA is top 5 in north america and driving alot of millenial jobs and they need a place to live. investing in condos along the subway/GO line will ensure high rent and steady appreciation or in dense commercial/residential pockets like toronto core, or even Square one mississauga, Markham.
b) renovation projects in areas like the beaches, long branch, leslieville aren't as lucrative as pre 2018, it has slowed down a bit but taht means a good time to buy renovation lots/old bungalows.
c) detached homes with average to below average finishes are selling below market value right now especially in the suburbs like mississauga...once over 1 million detaches can be foudn for 800k It is a GREAT time to buy a fixer upper in the suburbs and renovate. However good quality homes still selling for a premium.
d) condo prices are increasing while detached homes are dropping...once they get close in value folks will jump back into the detached market.
Great insight. Thanks for sharing.

Do you mind elaborating on your point on b and c?
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jillaryit wrote:
Jul 22nd, 2019 4:41 pm
The cheaper the property, the hotter the market is. Semis and sub 800k detached in Vaughan are selling like hotcakes. The condos near the Maple GO are also sold out.
I feel like that's a product of the stress test? People can't get to that buying power like before ? It would be interesting to see what happens when the stress test is lifted.

Are condos in burbs like Vaughn or Markham that much cheaper than condos in downtown fringe areas (east end, Leslieville etc)? Because it is a long commute to work if work is downtown.
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DPR2017 wrote:
Jul 22nd, 2019 5:20 pm
I feel like that's a product of the stress test? People can't get to that buying power like before ? It would be interesting to see what happens when the stress test is lifted.

Are condos in burbs like Vaughn or Markham that much cheaper than condos in downtown fringe areas (east end, Leslieville etc)? Because it is a long commute to work if work is downtown.
Probably coupled with mainland china’s tightened controls to prevent their citizens from transferring money overseas.

I think both will be relaxed sooner or later. And when that happens, :)

I work downtown and travel from Vaughan on GO. I just sleep both ways lol, upper level is nice and quiet. I arrive home, it’s a suburb, nice and quiet again. GO is $$ though
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Oct 27, 2017
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jillaryit wrote:
Jul 22nd, 2019 6:07 pm
Probably coupled with mainland china’s tightened controls to prevent their citizens from transferring money overseas.

I think both will be relaxed sooner or later. And when that happens, :)

I work downtown and travel from Vaughan on GO. I just sleep both ways lol, upper level is nice and quiet. I arrive home, it’s a suburb, nice and quiet again. GO is $$ though
How much exactly from vaughan to downtown?
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Feb 29, 2008
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DPR2017 wrote:
Jul 22nd, 2019 5:20 pm
I feel like that's a product of the stress test? People can't get to that buying power like before ? It would be interesting to see what happens when the stress test is lifted.

Are condos in burbs like Vaughn or Markham that much cheaper than condos in downtown fringe areas (east end, Leslieville etc)? Because it is a long commute to work if work is downtown.
I don't think the stress test is going anywhere, unfortunately.
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May 31, 2005
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SKOMO85 wrote:
Jul 22nd, 2019 8:39 pm
How much exactly from vaughan to downtown?
I don't think it costs much. My wife takes it and it might be like $7 one way? Apparently it's 33 mins to/from downtown without delays which is like every other day Grinning Face With Smiling Eyes
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Jan 26, 2016
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DPR2017 wrote:
Jul 22nd, 2019 5:20 pm

Are condos in burbs like Vaughn or Markham that much cheaper than condos in downtown fringe areas (east end, Leslieville etc)? Because it is a long commute to work if work is downtown.
Interesting enough, not quite so. Many people work uptown and push up the prices there too. The differential is not as much as one would expect.
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dimsumboi wrote:
Jul 22nd, 2019 9:06 pm
I don't think it costs much. My wife takes it and it might be like $7 one way? Apparently it's 33 mins to/from downtown without delays which is like every other day Grinning Face With Smiling Eyes
Yup around $7 one way. The delays are hardly ever more than 5 minutes. I never plan my wake up time to buffer for delays for GO, whereas I always put a 30 minutes buffer for early meetings when I took the Finch TTC back when I was in North York. And I was still late quite frequently to my 8:30, 9 meetings despite the buffer. If you’re used to the TTC, GO will seem like heaven to you. My commute from Vaughan vs North York is shorter, have less delays, more comfy for the additional price of $4 per trip.

TTC does train you well in anger management though (especially when you have to switch to shuttle buses for the subway lines)...
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dimsumboi wrote:
Jul 22nd, 2019 9:06 pm
I don't think it costs much. My wife takes it and it might be like $7 one way? Apparently it's 33 mins to/from downtown without delays which is like every other day Grinning Face With Smiling Eyes
Damn. I took take the go train, but it's $10 one way and 50 min for me. :(

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