'Financial stress storm' just starting for working Canadians
Financial well-being of workers dives as costs soar, National Payroll Institute survey says
More employed Canadians are finding themselves on shaky financial ground as inflation and higher interest rates erode any savings gains they made during pandemic lockdowns — and the worst may be yet to come.
The financial well-being of workers has fallen sharply this year amid rising expenses brought on by soaring living costs, according to the annual survey of working Canadians from the National Payroll Institute. More people say they’re finding it difficult to stretch their income to cover their bills, with the number of those living paycheque-to-paycheque jumping 26 per cent compared to this time last year.
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Financial well-being of workers dives as costs soar, National Payroll Institute survey says
More employed Canadians are finding themselves on shaky financial ground as inflation and higher interest rates erode any savings gains they made during pandemic lockdowns — and the worst may be yet to come.
The financial well-being of workers has fallen sharply this year amid rising expenses brought on by soaring living costs, according to the annual survey of working Canadians from the National Payroll Institute. More people say they’re finding it difficult to stretch their income to cover their bills, with the number of those living paycheque-to-paycheque jumping 26 per cent compared to this time last year.
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The days of solely working from home, saving on commuting costs and socking away money in savings accounts are behind most Canadians. Budgets are now getting stretched as more people head back to the office amid higher debt costs from rising interest rates and inflation hovering at levels not seen since the 1980s. Though the consumer price index has decelerated for the past two months, it still remains high. CPI clocked in at seven per cent in August, Statistics Canada said yesterday. Gas prices are cooling but food prices continue to rise, and were up 10.8 per cent from a year ago, putting pressure on wallets.
To get by, people are piling on debt. Those spending more than they make climbed 11 per cent — the highest ever in the survey’s history. Meanwhile, the number of workers carrying credit card debt soared to 42 per cent, climbing from 29 per cent in 2021, the survey said.
Savings are getting neglected, too. Nine per cent of workers say they don’t save at all, while 34 per cent say they put aside only one to five per cent of their paycheques, up from 27 per cent last year, when people reported being more financially stable.
There are other signs that workers are struggling under the burden of higher costs. One way the institute measures financial health is by placing people into three categories, or “clusters”: those who are comfortable, those who are coping, and those who are stressed. Last year, 46 per cent of respondents said they were comfortable financially. But this year, eight per cent of those joined the coping category, and another two per cent went over to the stressed section.
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To get by, people are piling on debt. Those spending more than they make climbed 11 per cent — the highest ever in the survey’s history. Meanwhile, the number of workers carrying credit card debt soared to 42 per cent, climbing from 29 per cent in 2021, the survey said.
Savings are getting neglected, too. Nine per cent of workers say they don’t save at all, while 34 per cent say they put aside only one to five per cent of their paycheques, up from 27 per cent last year, when people reported being more financially stable.
There are other signs that workers are struggling under the burden of higher costs. One way the institute measures financial health is by placing people into three categories, or “clusters”: those who are comfortable, those who are coping, and those who are stressed. Last year, 46 per cent of respondents said they were comfortable financially. But this year, eight per cent of those joined the coping category, and another two per cent went over to the stressed section.
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Ontario Housing Market Snapshot for August 2022
The Average Price of Homes in Ontario is Down 0.6%
In August 2022, the average price of homes sold across Ontario was $829,739, down 0.6% from $835,124 in August 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in the field of selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home Home Evaluation
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers to Canada
- Non-residents of Canada Non-Resident
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone, Emai:
+1 (647) 772-9502
hoizady@yahoo.com
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The Average Price of Homes in Ontario is Down 0.6%
In August 2022, the average price of homes sold across Ontario was $829,739, down 0.6% from $835,124 in August 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in the field of selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home Home Evaluation
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers to Canada
- Non-residents of Canada Non-Resident
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone, Emai:
+1 (647) 772-9502
hoizady@yahoo.com
.
Housing Market Snapshot for August 2022
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in the field of selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home Home Evaluation
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers to Canada
- Non-residents of Canada Non-Resident
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone, Emai:
+1 (647) 772-9502
hoizady@yahoo.com
.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in the field of selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home Home Evaluation
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers to Canada
- Non-residents of Canada Non-Resident
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone, Emai:
+1 (647) 772-9502
hoizady@yahoo.com
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Affordability in Canada is at a crisis point — and politicians don't have an easy fix
Experts say government must think long term when it comes to addressing supply
For Canadians like Missy Anderson, the cost of living is becoming a crisis.
She's 38 years old, a mother of four, and lives in Burlington, Ont. Like many other Canadians she has been forced to make difficult choices about how she spends her money.
"It's a juggling act," she said in an interview on CBC's The House that aired Saturday. On top of the costs of feeding and caring for her children, a low-dose chemotherapy treatment to address Stage 1 cervical cancer presents another challenge for the freelance writer.
Inflation in July was up 7.6 per cent in July over the same period last year. It was the first month-to-month decline since 2021, but the cost of living is still taking a bite out of Anderson's budget — and she's hoping for help from politicians.
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Experts say government must think long term when it comes to addressing supply
For Canadians like Missy Anderson, the cost of living is becoming a crisis.
She's 38 years old, a mother of four, and lives in Burlington, Ont. Like many other Canadians she has been forced to make difficult choices about how she spends her money.
"It's a juggling act," she said in an interview on CBC's The House that aired Saturday. On top of the costs of feeding and caring for her children, a low-dose chemotherapy treatment to address Stage 1 cervical cancer presents another challenge for the freelance writer.
Inflation in July was up 7.6 per cent in July over the same period last year. It was the first month-to-month decline since 2021, but the cost of living is still taking a bite out of Anderson's budget — and she's hoping for help from politicians.
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"They need to understand how the average Canadian is living. They offer benefits that I think they think sounds good — stuff like one-time $500 help for rent," Anderson told host Catherine Cullen.
"If you're in this area, that's not going to do a whole lot for help. That's like two trips to the grocery store."
Anderson is hoping for more help as soon as possible.
The federal government announced this week new measures that are aimed at helping with the affordability challenge, including the rental benefit Anderson describes, as well as boosted GST credits and a new dental benefit.
"These are things that will make a difference in people's lives right now, but they are sufficiently targeted that they will not contribute to increased inflation," said Prime Minister Justin Trudeau.
Opposition Leader Pierre Poilievre, however, argued the plan would "pour gasoline on the fire" of inflation. Scotiabank head of capital markets economics Derek Holt also criticized the government for shelling out more spending.
No easy solutions for short term pain
Trevor Tombe, an economist at the University of Calgary, told The House it was unlikely the recently announced measures would have a significant effect.
But he noted it might be hard to address the root problem of inflation quickly, so one of the things governments need to be honest about is "recognizing clearly and explicitly that there's not a lot that can be done in the very short term," he said.
Much of inflation is caused by global factors and high energy prices, Tombe said, on which government policies around spending or transfers can have limited impact. Rate hikes from the Bank of Canada will also take time to have an effect on inflation, Tombe noted.
Sean Speer, a senior fellow at the Munk School of Global Affairs and former economic policy adviser to Stephen Harper agreed that long term planning was needed to comprehensively deal with major challenges facing Canada today.
"I don't think we've heard enough from the government either on short term plans either to boost supply, but more important long term plans. There are just so many areas where we find ourselves supply constrained: health care, housing, energy," he said.
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"If you're in this area, that's not going to do a whole lot for help. That's like two trips to the grocery store."
Anderson is hoping for more help as soon as possible.
The federal government announced this week new measures that are aimed at helping with the affordability challenge, including the rental benefit Anderson describes, as well as boosted GST credits and a new dental benefit.
"These are things that will make a difference in people's lives right now, but they are sufficiently targeted that they will not contribute to increased inflation," said Prime Minister Justin Trudeau.
Opposition Leader Pierre Poilievre, however, argued the plan would "pour gasoline on the fire" of inflation. Scotiabank head of capital markets economics Derek Holt also criticized the government for shelling out more spending.
No easy solutions for short term pain
Trevor Tombe, an economist at the University of Calgary, told The House it was unlikely the recently announced measures would have a significant effect.
But he noted it might be hard to address the root problem of inflation quickly, so one of the things governments need to be honest about is "recognizing clearly and explicitly that there's not a lot that can be done in the very short term," he said.
Much of inflation is caused by global factors and high energy prices, Tombe said, on which government policies around spending or transfers can have limited impact. Rate hikes from the Bank of Canada will also take time to have an effect on inflation, Tombe noted.
Sean Speer, a senior fellow at the Munk School of Global Affairs and former economic policy adviser to Stephen Harper agreed that long term planning was needed to comprehensively deal with major challenges facing Canada today.
"I don't think we've heard enough from the government either on short term plans either to boost supply, but more important long term plans. There are just so many areas where we find ourselves supply constrained: health care, housing, energy," he said.
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StatCan reports on the most unaffordable housing markets
British Columbia (25.5%) and Ontario (24.2%) had the highest rates of unaffordable housing in Canada as of 2021, according to the national statistics agency.
A major driver is the persistence of higher rates of unaffordable housing in Toronto (30.5%) and Vancouver (29.8%), Statistics Canada said.
“Canadians paid a premium for a downtown city lifestyle, where housing costs were higher and rates of unaffordable housing were highest,” StatCan reported. “In 2021, the average rent for a two-bedroom dwelling in the primary downtowns of Canada’s three largest CMAs was higher than the average rent for each respective CMA as a whole.”
Montreal was particularly affected by the trend, with the rent for a two-bedroom dwelling in the market’s primary downtown being 69.9% higher compared to the rate for the CMA overall. Other markets with similarly large disparities in two-bedroom rental costs were Vancouver (50.1%) and Toronto (32.2%).
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British Columbia (25.5%) and Ontario (24.2%) had the highest rates of unaffordable housing in Canada as of 2021, according to the national statistics agency.
A major driver is the persistence of higher rates of unaffordable housing in Toronto (30.5%) and Vancouver (29.8%), Statistics Canada said.
“Canadians paid a premium for a downtown city lifestyle, where housing costs were higher and rates of unaffordable housing were highest,” StatCan reported. “In 2021, the average rent for a two-bedroom dwelling in the primary downtowns of Canada’s three largest CMAs was higher than the average rent for each respective CMA as a whole.”
Montreal was particularly affected by the trend, with the rent for a two-bedroom dwelling in the market’s primary downtown being 69.9% higher compared to the rate for the CMA overall. Other markets with similarly large disparities in two-bedroom rental costs were Vancouver (50.1%) and Toronto (32.2%).
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“Downtown households are most likely to be spending more than 30% of their income on shelter costs, for both owners and renters,” StatCan added. “In 33 of the 42 primary downtowns in Canada’s large urban centres, the unaffordable housing rate for renters was higher than the national average in 2021.”
Approximately half of renter residents in the downtown areas of Kingston (50.4%), Barrie (50.0%), Halifax (47.7%), and Peterborough (47.2%) were found to be living in unaffordable housing.
Toronto (45.2%), Vancouver (44.8%), and Montreal (44.2%) also posted elevated unaffordability rates in 2021, StatCan said.
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Approximately half of renter residents in the downtown areas of Kingston (50.4%), Barrie (50.0%), Halifax (47.7%), and Peterborough (47.2%) were found to be living in unaffordable housing.
Toronto (45.2%), Vancouver (44.8%), and Montreal (44.2%) also posted elevated unaffordability rates in 2021, StatCan said.
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Investors are trying to fill the multifamily rental housing gap and that's not a bad thing
If large financial firms and institutions are prevented from investing in multifamily rental housing, who else will pick up the tab?
The growing role of financial firms and institutional investors in multifamily rental housing has been criticized for eroding affordability in Canada and elsewhere, leading many to ask governments to limit or restrict their abilities to buy properties.
A new report by the Office of the Federal Housing Advocate that explores this “financialization” of housing and its impact on lower-income racialized communities in Toronto is critical of the “entry of financial firms and institutional investors seeking to convert multifamily real estate into a financial vehicle to generate wealth.”
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If large financial firms and institutions are prevented from investing in multifamily rental housing, who else will pick up the tab?
The growing role of financial firms and institutional investors in multifamily rental housing has been criticized for eroding affordability in Canada and elsewhere, leading many to ask governments to limit or restrict their abilities to buy properties.
A new report by the Office of the Federal Housing Advocate that explores this “financialization” of housing and its impact on lower-income racialized communities in Toronto is critical of the “entry of financial firms and institutional investors seeking to convert multifamily real estate into a financial vehicle to generate wealth.”
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The report suggests institutional investors have contributed to increasing rents, the eviction of non-paying tenants and forcing paying tenants to leave for renovations that housing advocates consider a cover that landlords use so that they can find higher-paying tenants.
Securing shelter for the most vulnerable in society is critical for social justice and the collective welfare of all. Providing affordable shelter for low-income households and social housing for those who cannot bear the cheapest market rent is the state’s and society’s collective commitment.
But providing multifamily housing is a capital-intensive enterprise. Constructing a new, purpose-built rental housing structure costs millions of dollars. Its maintenance and ownership over extended periods require significant investments.
All of which begs a few questions: if large investors are prevented from investing in multifamily rental housing, who is going to pick up the tab? The share of multifamily housing owned by institutional investors has increased, but has this increase automatically led to adverse housing outcomes for all? Without the huge investments needed to build new purpose-built rental housing, would there have been the recent resurgence in rental supply?
Recent Statistics Canada data presents a relatively optimistic picture for affordable housing. The number of households in 2021 experiencing core housing needs — that is, those facing affordability challenges, crowding or living in structurally compromised dwellings — has declined since 2016, according to 2021 census data. Also, a noticeably smaller share of the population experienced affordability challenges in 2021 than in 2016.
Lowest-income earners reported the most significant improvement in housing outcomes, the data shows. Statistics Canada speculates that housing outcomes of lower-income households improved, partly because of government support programs during the pandemic.
Despite the increased investments in purpose-built rental housing by institutional investors, the experience during the pandemic suggests government programs and safety nets can improve housing outcomes irrespective of the size and structure of the landlords.
Food is as essential as housing for well-being, so multifamily purpose-built rental housing is a business similar to grocery stores. But you don’t see campaigns to convince large retailers to fix the price of a loaf of bread or carton of milk, so why target private landlords to provide non-market housing to those who cannot afford market rents?
Since price movements with larger deviations from the long-term trend influence consumer sentiments more, the idea that buyers' remorse is more pronounced now is taking root.
Falling housing prices may not be leading to widespread buyers' remorse the way you think.
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Securing shelter for the most vulnerable in society is critical for social justice and the collective welfare of all. Providing affordable shelter for low-income households and social housing for those who cannot bear the cheapest market rent is the state’s and society’s collective commitment.
But providing multifamily housing is a capital-intensive enterprise. Constructing a new, purpose-built rental housing structure costs millions of dollars. Its maintenance and ownership over extended periods require significant investments.
All of which begs a few questions: if large investors are prevented from investing in multifamily rental housing, who is going to pick up the tab? The share of multifamily housing owned by institutional investors has increased, but has this increase automatically led to adverse housing outcomes for all? Without the huge investments needed to build new purpose-built rental housing, would there have been the recent resurgence in rental supply?
Recent Statistics Canada data presents a relatively optimistic picture for affordable housing. The number of households in 2021 experiencing core housing needs — that is, those facing affordability challenges, crowding or living in structurally compromised dwellings — has declined since 2016, according to 2021 census data. Also, a noticeably smaller share of the population experienced affordability challenges in 2021 than in 2016.
Lowest-income earners reported the most significant improvement in housing outcomes, the data shows. Statistics Canada speculates that housing outcomes of lower-income households improved, partly because of government support programs during the pandemic.
Despite the increased investments in purpose-built rental housing by institutional investors, the experience during the pandemic suggests government programs and safety nets can improve housing outcomes irrespective of the size and structure of the landlords.
Food is as essential as housing for well-being, so multifamily purpose-built rental housing is a business similar to grocery stores. But you don’t see campaigns to convince large retailers to fix the price of a loaf of bread or carton of milk, so why target private landlords to provide non-market housing to those who cannot afford market rents?
Since price movements with larger deviations from the long-term trend influence consumer sentiments more, the idea that buyers' remorse is more pronounced now is taking root.
Falling housing prices may not be leading to widespread buyers' remorse the way you think.
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No society or economy can function if lower-income wage earners cannot afford shelter. With rising housing prices and rents and extremely low rental vacancy rates, many families cannot meet their shelter needs without compromising spending on other essentials, such as food and clothing. Many are priced out of their cities and forced to commute unacceptably long distances on inconvenient transport systems. This must change.
At the same time, we must also help governments realize that forcing private landlords to bear the costs of affordable rental housing will not solve the problem. Just as governments don’t force ceiling prices on home sellers, they should refrain from putting arbitrary restrictions on landlords.
The way forward is for the government to facilitate the increased supply of both market and non-market rental housing. The three tiers of governments are endowed with the resources to be part of the solution by making Crown land in and near urban centres available for affordable and, more importantly, social housing, reducing or eliminating development charges for those who build affordable housing, and streamlining the approval process so that the private sector can expedite the supply of affordable housing.
Blocking investment in rental construction or subsequent maintenance and naïvely hoping that the governments will pick up the tab will only worsen matters for struggling families.
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At the same time, we must also help governments realize that forcing private landlords to bear the costs of affordable rental housing will not solve the problem. Just as governments don’t force ceiling prices on home sellers, they should refrain from putting arbitrary restrictions on landlords.
The way forward is for the government to facilitate the increased supply of both market and non-market rental housing. The three tiers of governments are endowed with the resources to be part of the solution by making Crown land in and near urban centres available for affordable and, more importantly, social housing, reducing or eliminating development charges for those who build affordable housing, and streamlining the approval process so that the private sector can expedite the supply of affordable housing.
Blocking investment in rental construction or subsequent maintenance and naïvely hoping that the governments will pick up the tab will only worsen matters for struggling families.
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Ontario expands energy-efficiency programs, including paying customers to run A/C less
Energy minister says programs are expected to roll out next spring
Ontario's electricity system operator is planning to roll out a program in which customers with smart thermostats would get paid to have their air conditioning remotely reduced on hot summer days.
It's one of a slew of conservation initiatives recommended by the Independent Energy System Operator (IESO) that the Energy Minister Todd Smith accepted Tuesday morning as the province seeks to manage rising demand from electrification.
Smith says they'll roll out new and expanded programs starting next year, with a cost of $342 million.
"This expansion will help deliver enough annual electricity savings to power about 130,000 homes every year, and reduce costs for consumers by over $650 million," he said at a news conference.
"It's a win for customers, it's a win for climate and a win for Ontario."
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Energy minister says programs are expected to roll out next spring
Ontario's electricity system operator is planning to roll out a program in which customers with smart thermostats would get paid to have their air conditioning remotely reduced on hot summer days.
It's one of a slew of conservation initiatives recommended by the Independent Energy System Operator (IESO) that the Energy Minister Todd Smith accepted Tuesday morning as the province seeks to manage rising demand from electrification.
Smith says they'll roll out new and expanded programs starting next year, with a cost of $342 million.
"This expansion will help deliver enough annual electricity savings to power about 130,000 homes every year, and reduce costs for consumers by over $650 million," he said at a news conference.
"It's a win for customers, it's a win for climate and a win for Ontario."
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Immigration will allow Bank of Canada to cut rates sooner than 'peers'
New arrivals will help ease pressure on labour shortages and wages, says economist
Immigration to Canada has risen by among the highest numbers since Statistics Canada started tracking the data.
A record flow of immigration could allow the Bank of Canada to start cutting interest rates before its “peers,” according to a report from Capital Economics.
“The longer-term effects of strong immigration do at least support our view that the bank will be able to reduce interest rates sooner than many of its peers, as wage growth drops back quicker than elsewhere,” Capital Economics economist Stephen Brown said in a note.
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New arrivals will help ease pressure on labour shortages and wages, says economist
Immigration to Canada has risen by among the highest numbers since Statistics Canada started tracking the data.
A record flow of immigration could allow the Bank of Canada to start cutting interest rates before its “peers,” according to a report from Capital Economics.
“The longer-term effects of strong immigration do at least support our view that the bank will be able to reduce interest rates sooner than many of its peers, as wage growth drops back quicker than elsewhere,” Capital Economics economist Stephen Brown said in a note.
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Immigration to Canada has been on a tear after falling off a cliff during the pandemic, with 269,305 international migrants arriving in the second quarter, the highest level since the start of record-keeping, according to Statistics Canada data released last week. Immigration accounted for 95.4 per cent of the country’s population growth in the quarter.
Justin Trudeau’s government earlier this year unveiled a plan to add more than 431,000 permanent residents in 2022, 447,000 in 2023 and 451,000 in 2024.
Immigration has been one of the main drivers of Canada’s economy, accounting for almost all the nation’s employment growth. But with job vacancies soaring to almost one million open positions in the second quarter and baby boomers retiring en masse, “high levels of immigration will be even more critical to the labour market,” Statistics Canada said.
Brown is thinking along those same lines, but regarding how that will interact with interest rates.
The Bank of Canada has raised rates five times since March to 3.25 per cent, from 0.25 per cent, to battle decades-high inflation. The cost of living has shown signs of moderating, but Brown said, in an email elaborating on his note, that the central bank will have to keep hiking to address high job vacancy rates and rising wages.
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Justin Trudeau’s government earlier this year unveiled a plan to add more than 431,000 permanent residents in 2022, 447,000 in 2023 and 451,000 in 2024.
Immigration has been one of the main drivers of Canada’s economy, accounting for almost all the nation’s employment growth. But with job vacancies soaring to almost one million open positions in the second quarter and baby boomers retiring en masse, “high levels of immigration will be even more critical to the labour market,” Statistics Canada said.
Brown is thinking along those same lines, but regarding how that will interact with interest rates.
The Bank of Canada has raised rates five times since March to 3.25 per cent, from 0.25 per cent, to battle decades-high inflation. The cost of living has shown signs of moderating, but Brown said, in an email elaborating on his note, that the central bank will have to keep hiking to address high job vacancy rates and rising wages.
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Market Watch Infographic-September 2022
In September 2022, the Average Price of Homes sold across Canada was $1,0786,762, Less 4.3% in comparison to September 2021.
Average Selling Price for Detached Houses was $1,369,186, for Semi-Detached Houses was $1,043,120, for Townhouses was $901,592 and for Condos was $730,818.
Please call us if you need any of below services for Buyers and Sellers:
- Loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home Home Evaluation
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
We have special services for:
- First Time Home Buyers
- Newcomers to Canada
- Non-Residents of Canada
- Investment Property
- Renovation Services
☎️ You can contact us via Phone or Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
In September 2022, the Average Price of Homes sold across Canada was $1,0786,762, Less 4.3% in comparison to September 2021.
Average Selling Price for Detached Houses was $1,369,186, for Semi-Detached Houses was $1,043,120, for Townhouses was $901,592 and for Condos was $730,818.
Please call us if you need any of below services for Buyers and Sellers:
- Loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home Home Evaluation
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
We have special services for:
- First Time Home Buyers
- Newcomers to Canada
- Non-Residents of Canada
- Investment Property
- Renovation Services
☎️ You can contact us via Phone or Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
به گزارش هیئت منطقه ای املاک و مستغلات تورنتو، میزان خرید و فروش خانه در کلانشهر تورنتو ماه گذشته در مقایسه با سپتامبر سال گذشته 44 درصد و نسبت به آگوست 2022 حدود 10 درصد کاهش داشت. سپتامبر امسال پایین ترین تعداد لیستینگ ها در 20 سال گذشته ثبت شد.
داده های 5 اکتبر، حاکی از فروش 5038 خانه در ماه سپتامبر بود. کارگزاران افزایش نرخ بهره و نرخ وام مسکن را در این کاهش موثر می دانند. اعداد و ارقام نشاندهنده ادامه رکود بازاری است که تا مدتی قابل شاهد جنگ قیمت بود.
کاهش لیستینگ های جدید با افت 4.3 درصدی میانگین قیمت در مقایسه با سال گذشته و رسیدن آن به حدود 1 میلیون و 87 هزار دلار همراه شده است.
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داده های 5 اکتبر، حاکی از فروش 5038 خانه در ماه سپتامبر بود. کارگزاران افزایش نرخ بهره و نرخ وام مسکن را در این کاهش موثر می دانند. اعداد و ارقام نشاندهنده ادامه رکود بازاری است که تا مدتی قابل شاهد جنگ قیمت بود.
کاهش لیستینگ های جدید با افت 4.3 درصدی میانگین قیمت در مقایسه با سال گذشته و رسیدن آن به حدود 1 میلیون و 87 هزار دلار همراه شده است.
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برخی از فروشندگان خانه های خود را مانند دوران اوج بازار، قیمتگذاری می کنند. اما املاکی که در حال حاضر فروخته می شوند، املاکی هستند که بر اساس وضعیت امروز بازار قیمتگذاری شده اند.
در آن زمان، میانگین قیمت در منطقه کد 905 – بخشی از کلانشهر تورنتو، وان و دورهام – بالاترین میزان یعنی حدود 1 میلیون و صد هزار دلار بود. میانگین قیمت در منطقه کد 416 (تورنتو) حدود 1 میلیون و 62 هزار دلار بود.
به گفته هیئت منطقه ای املاک و مستغلات تورنتو، میانگین قیمت خانه های مستقل با 10 درصد کاهش سالانه به حدود 1 میلیون و 370 هزار دلار؛ املاک نیمه مستقل با 6.5 درصد کاهش به 1 میلیون و 43 هزار دلار و تاون هاوس با 1 درصد کاهش به حدود 902 هزار دلار رسیده است. با این حال قیمت کاندو تقریبا سه درصد افزایش داشت.
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در آن زمان، میانگین قیمت در منطقه کد 905 – بخشی از کلانشهر تورنتو، وان و دورهام – بالاترین میزان یعنی حدود 1 میلیون و صد هزار دلار بود. میانگین قیمت در منطقه کد 416 (تورنتو) حدود 1 میلیون و 62 هزار دلار بود.
به گفته هیئت منطقه ای املاک و مستغلات تورنتو، میانگین قیمت خانه های مستقل با 10 درصد کاهش سالانه به حدود 1 میلیون و 370 هزار دلار؛ املاک نیمه مستقل با 6.5 درصد کاهش به 1 میلیون و 43 هزار دلار و تاون هاوس با 1 درصد کاهش به حدود 902 هزار دلار رسیده است. با این حال قیمت کاندو تقریبا سه درصد افزایش داشت.
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For Sale Listed for: $1,088,000
4 + 1 Bedrooms
4 Bathrooms (1×2×Main, 1×4×2nd, 1×5×2nd, 1×3×Bsmt)
1 Garage
1 + 1 Kitchen
Property Type: Att/Row/Townhouse, 2-Storey
Lot Size: 40 × 110 feet
Total Parking Spaces: 8, Attached 2 Garage, 6 parking
Basement: Finished / Sep Entrance
Description:
Welcome To The Prestigious Westbrook Area, Rare 4+1 Bedrooms, Appx 2000 sqft End Unit Freehold Townhouse W/ Sept Entrance To Basement, Offered Rec+ Kit + Br+3 Pcs Bath; Open To Great Rm, Kit Combined W Breast Fast Area, W/O To Yard, Fam W/ Gas Fireplace, Mbr Offered 4 Pc Ensuite + W/I Closet; No Sidewalk On Driveway, Fits 3 Cars. Across Fr Green Space, Schls Zone (Fraser's Report), Mins Wk To Yonge St, Bernard Station, Ttc, Go Station, Parks, Restaurant, Shopping, All Amenities.
Extras: All Existing: Elfs, 2 Stoves, 2 Fridges, Dishwasher, Washer, Dryer, Gdo & Remote
For Booking please call:
Hojjatollah Izady
Realtor
HomeLife/Cimerman Real Estate Ltd., Brokerage
647-772-9502
hoizady@yahoo.com
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4 + 1 Bedrooms
4 Bathrooms (1×2×Main, 1×4×2nd, 1×5×2nd, 1×3×Bsmt)
1 Garage
1 + 1 Kitchen
Property Type: Att/Row/Townhouse, 2-Storey
Lot Size: 40 × 110 feet
Total Parking Spaces: 8, Attached 2 Garage, 6 parking
Basement: Finished / Sep Entrance
Description:
Welcome To The Prestigious Westbrook Area, Rare 4+1 Bedrooms, Appx 2000 sqft End Unit Freehold Townhouse W/ Sept Entrance To Basement, Offered Rec+ Kit + Br+3 Pcs Bath; Open To Great Rm, Kit Combined W Breast Fast Area, W/O To Yard, Fam W/ Gas Fireplace, Mbr Offered 4 Pc Ensuite + W/I Closet; No Sidewalk On Driveway, Fits 3 Cars. Across Fr Green Space, Schls Zone (Fraser's Report), Mins Wk To Yonge St, Bernard Station, Ttc, Go Station, Parks, Restaurant, Shopping, All Amenities.
Extras: All Existing: Elfs, 2 Stoves, 2 Fridges, Dishwasher, Washer, Dryer, Gdo & Remote
For Booking please call:
Hojjatollah Izady
Realtor
HomeLife/Cimerman Real Estate Ltd., Brokerage
647-772-9502
hoizady@yahoo.com
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