Real Estate Cheat Sheet: what the experts are predicting for Toronto’s housing market in 2014
With the end of the year in sight, real estate experts are scrutinizing sales data, demographic trends and interest rates to try and divine what 2014 might bring for the Toronto market. Here, a few of the trends they’re expecting to surface.
Prices will still go up—but not quite as quickly.
Toronto house prices have historically appreciated about seven per cent a year on average. In 2014, they’re only projected to grow by 1.5 percent, according to a senior market analyst at the Canada Mortgage and Housing Corporation. The reason? The years of ultra-low mortgage rates are over, which will make many buyers think twice before they take on debt.
Millenials are poised to enter the market.
Fact one: the average age of a first-time buyer in the GTA is 37. Fact two: the echo boom generation is currently between 20 and 36 years old. That means the next few years will see hordes of millenials trying to make the leap from renter to homeowner—a shift that will have a deep impact on the market. (Don’t believe it? The mass of echo boomers currently living downtown has already sent rents skyrocketing and vacancy rates plummeting). Experts predict the shift will spur demand for affordable semis and townhouses in the downtown core and along transit lines.
The market will stagnate come spring. Or it won’t.
Sme experts believe that the usual December and January lull will be followed by an active spring market. Another contingent is convinced that the holiday doldrums will be worse than usual, and that things won’t improve in 2014. So, not very helpful.
People will keep moving from the suburbs to the core.
Pundits are much more confident predicting the continuation of the reverse migration from the suburbs to the downtown core. A survey of some 1,000 players in Canadian real estate by the Urban Land Institute and PricewaterhouseCoopers indicates that demand for office and retail spaces will also be strongest in the city centre—which may sound the death knell for suburban office parks that aren’t close to mass transit.
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C2763776 – M5P – 369 SPADINA RD Toronto, Ontario – $ 1,500,000
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C2785091 – M2N – 336 HOLLYWOOD AVE Toronto, Ontario – $ 1,258,000
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**In The Heart Of Hi-Demand Of Willowdale!!One Of The Best St,Location In Area!!-Great Opportunity To Own 50X131.50Ft,Georgeous Custom-Built Lot!! …
C2790159 – M2R – 21 MADAWASKA AVE Toronto, Ontario – $ 1,288,000
Magnificent 2 Storey Custom Built Home In The Heart Of North York. Recently Renovated. Close To Yonge Street, Centre Point Shopping Mall. Circular Oak …
C2790252 – M2J – 7 ALLENWOOD CRES Toronto, Ontario – $ 850,000
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C2790339 – M2N – 348 HILLCREST AVE Toronto, Ontario – $ 2,298,800
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C2790376 – M5M – 687 WOBURN AVE Toronto, Ontario – $ 3,480,000
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C2790404 – M6A – 99 REGINA AVE Toronto, Ontario – $ 709,000
Prime Bathrust & Lawrence Location, Solid 3 Bdrm. Bungalow On Treed Fenced In 50X132 Lot, Quiet Dead End One Way Street, Featuring Hardwood Floors, 2 …
C2790410 – M2N – 236 COLDSTREAM AVE Toronto, Ontario – $ 2,297,000
Dft!!!Reduced!Xtraordinary Custom Home!Meets Highest Standards Of Lux. Lifestyle!Prestigious Loc.Close To Ave.Rd!5+2 Br s!5Baths!4200Sq.Ft+Raised …
C2790417 – M5N – 507 CASTLEFIELD AVE Toronto, Ontario – $ 1,625,000
Three Floors Of Living Space In Demand Location. Large South Lot. Large Principle Rooms. Very Bright. Finished Basement. Two Walk-Outs To Landscaped Back …
C2790443 – M5M – 537 DOUGLAS AVE Toronto, Ontario – $ 2,088,000
A Spectacular, Elegant Showcase Home With Wonderful Proportions And Exquisite Finishes. Nestled In A Wonderful Neighborhood Close To All Amenities Ttc, …
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E2771927 – M1G – 12 MERKLEY SQ Toronto, Ontario – $ 479,900
Price Change. Nov 24: $ 479,900 Nov 13: $ 499,000 Oct 27: $ 529,000
Spacious Bungalow! Renovated Stucco Front. Finished Deck In Yard. New Renovated Kitchens (Main+Bsmt) And Washroom, New Furnace (2012). …
E2780656 – M1P – 121 OMNI DR Toronto, Ontario – $ 399,000
Price Change. Nov 20: $ 328,000 Nov 9: $ 359,000 Nov 24: $ 399,000
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Price Change. Nov 14: $ 1,599,000 Nov 24: $ 1,699,900
Courcelette School Area. Unique Beach Multiplex Steps From Queen Street. This Property Has Six Apartments With A Wonderful Blend Of Old And New. A Great …
E2790166 – M4L – 1544 DUNDAS ST E Toronto, Ontario – $ 597,000
Prime Leslieville Gem, Newly Renovated, Hardwood Floors Throughout, Granite Counters, Stainless Steel Appliances, Tasteful Design And Colour …
E2790194 – M1B – 68 PURVIS CRES Toronto, Ontario – $ 399,900
***Absolute Immaculate Condition***New Vinyl Siding***New Backsplash***Newly Renovated Basement***Newer Windows***Newer Furnace & Central Air ***New …
E2790229 – M4C – 451 MAIN ST Toronto, Ontario – $ 489,000
: Amazing Opportunity To Own A Spacious Detached Home W/Legal Parking On A Huge 146 Deep Lot! High 9 Ceilings On The First Level, Hardwood Floors In …
E2790244 – M1H – 153 GREENBRAE CRCT Toronto, Ontario – $ 428,990
Modern 3-Story Freehold Townshome By Sundance Homes In A High Demand Area. Approx 1811Sqft Of Sophistication & Style W/ An Open Concept …
E2790253 – M1S – 2800 MIDLAND AVE Toronto, Ontario – $ 369,900
Location!! Location!! Spacious 4 Bedroom Fully Hardwood Town House In High Demand Midland And Hunting Wood Area L-Shaped Living And Dining Room Eat In …
E2790259 – M1H – 139 GREENBRAE CRCT Toronto, Ontario – $ 461,990
:Modern 3-Story Freehold Townshome By Sundance Homes In A High Demand Area. Approx 1853Sqft Of Sophistication & Style W/ An Open Concept …
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Cul-De-Sac In A Dorset Park Neighbourhood. 3+1 Bedroom Bungalow In An Excellent Location. Separate Entrance To Basement With One Bedroom. Hardwood …
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Cul-De-Sac In A Dorset Park Neighborhood. 3+1 Bedroom Bungalow In An Excellent Location. Separate Entrance To Basement With One Bedroom. Hardwood …
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Price Change. Nov 24: $ 419,800 Nov 13: $ 429,900 Oct 17: $ 439,900
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W2769395 – M3M – 22 MARYPORT AVE Toronto, Ontario – $ 689,000
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Thousands Spent Move In Condition Great Location. New Hardwood Flooring Throughout New Main Floor. Kitchen With Granite Counter Top,New Top To Bottom …
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Condo Alternative. Lots Of Development In The Area With Amazing Appreciation On Home Values. Build Your Dream Home. Great Neighbourhood And Good …
W2790176 – M6N – 41 UXBRIDGE AVE Toronto, Ontario – $ 549,000
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W2790207 – M6S – 91 RIVERVIEW GDNS Toronto, Ontario – $ 979,900
Rarely Offered Classic Old Mill Home Overlooking The Humber River From A Private Hilltop Cul-De-Sac. Traditional Charm Throughout This Spacious Three …
W2790208 – M3N – 11 FORGE DR Toronto, Ontario – $ 459,990
A Beautiful 4 Bedroom Bungalow Located In The Black Creek Area. Very Quiet Neighborhood. Basement Finished …
W2790214 – M8W – 20 THIRTY-SECOND ST Toronto, Ontario – $ 950,000
Attention Builders, Contractors, And Renovatoers. Huge 37.50 X 135.50 Foot Lot With Large 2 Bedroom …
W2790251 – M9V – 29 SHALOM CRES Toronto, Ontario – $ 429,900
Welcome Home! Stunning 3 Bedrm, Upgraded Detach 2 Storey Home.Fully Renovated,Main Floor Feature Gleaming Laminate Flooring.Upgraded Kitchen With Glass …
W2790412 – M9A – 7 TYRE AVE Toronto, Ontario – $ 1,075,000
Magnificent 5 Level Residence Situated In Islington Village Just Steps To The Subway & Go Train Professionally Landscaped Grounds Quality Finishes Thru …
W2790465 – M9V – 24 MARLEBON RD Toronto, Ontario – $ 479,900
Immaculate, Seeing Is Believing! Renovated From Top To Bottom On A Quiet Family Cres In A Sought After Location.Modern Gourmet Kitchen With Glass …
W2790474 – M8Z – 793 OXFORD ST Toronto, Ontario – $ 629,900
Spectacular Renovation In This 3+2 Bdrm Bungalow. New Sub Floor And New Hardwood Floors Throughout. Enjoy Your New Custom Kitchen, Granite Counter Tops …
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